Band alignment is a key issue for the optoelectronics based on 2D layered transition metal dichalcogenides (TMDs) heterostructures. Herein, band alignment of MoTe2/MoS2 mixed heterostructure is measured with high‐resolution X‐ray photoelectron spectroscopy. The MoTe2/MoS2 heterostructure belongs to type‐II heterostructure with the conduction band offset of 0.46 eV and the valence band offset of 0.9 eV. The stronger saturable absorption is observed in MoTe2/MoS2 heterostructure film compared with that of pure MoTe2 and MoS2 nanofilms at the same condition. An energy‐level model combined with Runge–Kutta algorithm is used to understand the enhancement mechanism. It is found that the interlayer transition from MoTe2/MoS2 heterojunction plays an important role in the nonlinear optical enhancement. Meanwhile, band structure of MoTe2/MoS2 heterostructure is calculated by the first principles. The contributions of the MoTe2 and MoS2 to the heterojunction are almost equal and the valence band maximum and conduction band minimum exist in MoTe2 and MoS2 separately. This structure can form the interlayer carriers easily. The results suggest that the band alignment of TMDs paves the way for the type‐II heterostructure for enhanced nonlinear response in the development of optical modulator, ultrafast laser mode lockers, saturable absorbers, and optical switches.