In this research, a simple and chemoselective synthesis of highly fluorescent polysubstituted dihydro‐6H‐chromeno[4,3‐d]pyrazolo[1,5‐a]pyrimidin‐6‐ones containing one chiral stereocenter is presented by a sequential four‐component reaction of 4‐chloro‐3‐formylcoumarin, 1‐phenyl‐2‐(1,1,1‐triphenyl‐λ5‐phosphanylidene)ethan‐1‐ones (Wittig reagent), benzoylacetonitriles and hydrazine hydrate as readily available starting materials, which includes base‐mediated 1,4‐addition/aza‐Michael addition/formation of two C−N bonds. The desired products were obtained with short reaction times, easy purification (products can be purified by washing with EtOH), and medium to high yields (up to 92 %) under relatively mild reaction conditions. Molecular structures were determined by IR spectrophotometry, mass spectrometry, NMR spectroscopy, and single‐crystal X‐ray analysis.