Water compatibility for heterogeneous photocatalysts has been pursued for energy and environmental applications. However, there exists a trade-off between hydrophilicity and recyclability of the photocatalyst. Herein, we report a conjugated polymer photocatalyst with tertiary amine terminals that reversibly binds CO in water, thereby generating switchable hydrophilicity. The CO -assisted hydrophilicity boosted the photocatalytic efficiency in aqueous medium with minimum dosage. When CO was desorbed, the photocatalyst could be simply regenerated from reaction media, facilitating the repeated use of photocatalyst. Hydrophilicity/hydrophobicity control of the polymer photocatalyst was successfully showcased through a variety of organic photoredox reactions under visible-light irradiation in water.