We introduced OH groups to the aromatic rings of Ru(salophen)(NO)Cl (0) (salophenH2 = N,N′‐(1,2‐phenylene)bis(salicylideneimine)) to investigate the influence of the substitution on NO photolysis and NO‐releasing dynamics. Three derivative complexes, Ru((o‐OH)2‐salophen)(NO)Cl (1), Ru((m‐OH)2‐salophen)(NO)Cl (2), and Ru((p‐OH)2‐salophen)(NO)Cl (3) were developed and their NO photolysis was monitored by using UV/Vis, EPR, NMR, IR, and X‐ray crystallography. Spectroscopic results indicated that the complexes were diamagnetic Ru(II)–NO+ species which were converted to low‐spin Ru(III) species and released NO radicals by photons. The photochemical quantum yields (PCQYs) of the photolysis were determined to be 0 > 1, 2, 3 at both the visible and UV excitations. The geminate rebinding rates of the photoreleased NO were estimated to be 0 ≃ 1, 2, 3. Theoretical computations found that the introduction of the OH groups elevated the ligand π‐bonding orbitals, resulting in decrease of the HOMO‐LUMO gaps. The theoretical calculations suggested that the Ru‐NNO bond dissociations of the complexes were mostly initiated by the ligand‐to‐ligand charge transfer and the decreasing PCQYs could be explained by the changes of the electronic structures in which the photoactivable bands of 1‐3 have relatively less contribution of transitions related with Ru‐NO bond than those of 0.