2‐Cyano‐N′‐[1‐(substitutedphenyl)ethylidene]acetohydrazide 2a, 2b, 2c were obtained via reaction of acetophenone derivatives 1a, 1b, 1c with cyanoacetic acid hydrazide. The hydrazidehydrazone derivative 2a underwent a novel series of heterocyclization reactions via its reaction with aromatic aldehydes and/or arylidenemalononitriles to produce arylidene and dihydropyridine derivatives 3 5l, respectively. Structures of the newly synthesized compounds were confirmed by elemental analyses, IR, 13C‐NMR, 1H‐NMR and mass spectral data. All the newly synthesized compounds were evaluated for their in‐vitro antitumor activity against Ehrlich Ascities Carcinoma (EAC) cells. Some of them showed interesting cytotoxic activity compared with Doxorubicin (CAS 23214‐92‐8) as a reference drug. J. Heterocyclic Chem., (2011).