Four lanthanide complexes with 8‐hydroxyquinoline‐2‐aldehyde‐2‐hydrazinopyridine (H‐L1), 8‐hydroxyquinoline‐2‐aldehyde‐2‐hydrazimidazole (H‐L2): [Sm(L1)2][Sm(L1)(NO3)3]·CHCl3·2CH3OH (1), [Gd(L1)2][Gd(L1)(NO3)3]·CHCl3·2CH3OH (2), [Sm(L2)(NO3)2]2·CH3OH (3), and [Eu(L2)(NO3)2]2·CH3OH (4) were synthesized and characterized. In vitro cytotoxicity evaluation showed that the ligands and four lanthanide complexes exhibited cytotoxicity to the five tested tumor cell lines. Among them, complex 1 showed the best antiproliferative activity against NCI‐H460 tumor cells. Mechanistic studies demonstrated that complex 1 arrested the cell cycle of NCI‐H460 cells in G1 phase and induced mitochondria‐mediated apoptosis, which resulted in the loss of mitochondrial membrane potential, enhanced intracellular Ca2+ levels and reactive oxygen species generation. In addition, complex 1 affected the expression levels of intracellular apoptosis‐related proteins and activated the caspase‐3/9 in NCI‐H460 cells. Therefore, complex 1 is a potential anticancer agent.