Nonstoichiometric direct arylation polycondensation of 2,2′,3,3′,5,5′,6,6′‐octafluorobiphenyl with excess of 2,7‐diiodo‐9,9‐dioctyl‐9H‐fluorene is demonstrated. Pd/Ag dual‐catalyst system under water/2‐methyltetrahydrofuran biphasic conditions enables direct arylation under mild conditions and promotes the intramolecular transfer of a Pd catalyst walking through the fluorene moiety. The nonstoichiometric direct arylation polycondensation under the optimized reaction conditions produces the corresponding π‐conjugated polymer with a high molecular weight and terminal octafluorobiphenyl units at both ends.