Carbon quantum dots (CQDs) are a type of carbon‐based nanoparticles that are typically smaller than 10 nanometres in size. In this study, L‐tryptophan‐mediated CQDs were synthesized using the hydrothermal carbonization (HTC) technique, which is known for its non‐toxic, environmentally friendly, and cost‐effective nature. The synthesized carbon quntum dot was successfully characterized. The HR‐TEM analysis clearly revealed the formation of specific aggregates with a size distribution ranging from 3.0 to 5.1 nm. These L‐tryptophan‐mediated CQDs exhibited remarkable emission behaviour, displaying strong and stable blue fluorescence. Moreover, they were utilized as a sensor for the sensitive detection of Fe3+ and Hg2+ ions in an aqueous solution, employing a fluorescence quenching mechanism. The limit of detection for Fe3+ sensing was determined to be 1.2×10−5 M, while for Hg2+ sensing, it was found to be 1.9×10−5 M. The sensing of Fe3+ and Hg2+ ions was also confirmed through visual eye detection, as a significant color change of the CQDs was observed. Additionally, a competitive study was conducted to verify the selectivity of the L‐tryptophan‐mediated CQDs towards Fe3+ and Hg2+ metal ions.