The inverse Faraday effect (IFE), where a static magnetization is induced by circularly polarized light, offers a promising route to ultrafast control of spin states. Here we study the inverse Faraday effect in Mott insulators using the Floquet theory. In the Mott insulators with inversion symmetry, we find that the effective magnetic field induced by the IFE couples ferromagnetically to the neighboring spins. While for the Mott insulators without inversion symmetry, the effective magnetic field due to IFE couples antiferromagnetically to the neighboring spins. We apply the theory to the spin-orbit coupled single- and multi-orbital Hubbard model that is relevant for the Kitaev quantum spin liquid materials and demonstrate that the magnetic interactions can be tuned by light.
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