Benzopyrazinoisoindigo, a pigment reported 40 years ago, should be a good candidate for n‐type semiconductors if the reported structure is correct. Reinvestigation of this molecule revealed that it is actually (4H,4′H)‐benzopyrazinoisoindigo, which could be considered as the reduced form of benzopyrazinoisoindigo, and hence, it is a good candidate for p‐type semiconductors. The route toward the synthesis of this molecule was optimized, and a mechanism was accordingly proposed. A field‐effect transistor based on this material showed a hole mobility up to 2.5 × 10–2 cm2 V–1 s–1.