Advanced oxidation processes (AOPs) using hydroxyl radicals (•OH) as oxidizing agents are a promising technology. Herein, a feasible strategy is developed to initially construct carbazole‐based D‐π‐A type conjugated polymer (PBNCZ) via the oxidative coupling. Additionally, introducing ─COO− through Cyano hydrolysis extends its conjugated structure and improves the energy band structure, which greatly facilitates the generation of •OH as well as the enrichment of pollutants. Detailed experiments and theoretical calculations have proved that the introduction of ─COO− enhances the adsorption of O2 and bisphenol A (BPA), optimizing the reaction path of •OH. Thus, it completely decomposes 10 ppm of BPA within just 10 min, exceeding all previously organic photocatalysts. Meanwhile, the efficiency of photocatalytic H2O2 production by PBNCZ‐COO− reaches 1719.03 µmol h−1 g−1 under visible light. This multifunctional material with high adsorption capacity, photodegradation efficiency, and photocatalytic H2O2 production activity provides a solid foundation for the preparation of organic photocatalysts.