Photocatalytic production of hydrogen peroxide (H2O2) from earth‐abundant water and O2 is a desirable artificial photosynthesis for solar fuel production. A metal‐free hybrid photocatalyst consisting of pyromellitic diimide‐doped carbon nitride (g‐C3N4/PDI), boron nitride (BN), and reduced graphene oxide (rGO) was prepared. The g‐C3N4/PDI‐BN‐rGO catalyst, when photoirradiated in water with O2 by visible light at room temperature, efficiently produces H2O2. The photoexcited g‐C3N4/PDI moiety transfers the conduction band electrons to rGO, leading to selective production of H2O2 via two‐electron reduction of O2 on the rGO surface. In contrast, the valence‐band holes photoformed on the g‐C3N4/PDI moieties are transferred to BN, leading to efficient oxidation of water. The electron–hole separation enhanced by the incorporation of rGO and BN significantly suppresses the charge recombination and exhibits high photocatalytic activity. The solar‐to‐chemical conversion (SCC) efficiency for H2O2 production on the hybrid catalyst is 0.27 %, which is higher than the highest efficiencies obtained by overall water splitting on powdered catalysts.