The reaction between luminol and colloidal MnO2 (prepared by chemical reduction of KMnO4 with Na2S2O3 under neutral aqueous condition) produced an intense chemiluminescence (CL) emission in alkaline medium. The CL reaction conditions were carefully optimized and the CL reaction mechanism was thoroughly discussed. Manganese(III) was suggested to be involved in the reaction and 3‐aminophthalate anion was the luminophor. Moreover, the effects of 23 compounds on the colloidal MnO2‐luminol CL system were investigated to explore its possible analytical applications. Polyhydroxyl compounds were observed to inhibit the signal significantly, whereas sulfhydryl compounds enhance it slightly. The analytical figures for five polyhydroxyl compounds, namely ascorbic acid, rutin, pyrogallol, quercetin, and L‐adrenaline, were presented. As a preliminary application, the method was applied to the determination of rutin in pharmaceutical formulations.