A [4+3] annulation of 2‐ylideneoxindoles with crotonate‐derived sulfur ylides has been developed. A series of oxepino[3,2‐b]indoles were prepared in moderate to excellent yields (62‐93%) under mild conditions. Moreover, the synthetic oxepino[3,2‐b] indoles can be further transformed into more complex cyclopropa[5,6]oxepino[3,2‐b]indoles via a [2+1] cyclopropanation. In addition, the synthetic compounds show certain antiproliferative activity against K562 and MCF‐7 cells, and its IC50 values for these two kinds of tumor cells up to 5.40±0.88 μM and 18.41±0.50 μM, respectively.