Cold stress has severe negative consequences for plant growth and crop yield. Here, we report that an Arabidopsis thaliana mutant that lacks the HPE1 gene, which encodes an RNA‐binding protein, maintains higher photosynthetic activity under cold stress, together with higher accumulation of thylakoid proteins. We showed that HPE1 interacts with MORF2 and MORF9 and thereby mediates RNA editing in chloroplasts. Loss of HPE1 function increased the editing efficiency at four RNA editing sites, rpoC‐488, ndhB‐149, ndhB‐746 and matK‐706, under cold stress and altered the expression of nuclear photosynthesis‐related genes and cold‐responsive genes. We propose that HPE1‐mediated RNA editing acts as a trigger for retrograde signaling that affects photosynthesis under cold stress.