An efficient strategy for comprehensive utilization of the conjugated sulfonium salt photoacid generator (PAG), namely, 3‐{4‐[4‐(4‐N,N′‐diphenylamino)‐styryl]phenyl}phenyl dimethyl sulfonium hexafluoroantimonate, was developed through photoinitiated cationic photopolymerization (CP) of epoxides and vinyl ether upon exposure to near‐UV and visible light‐emitting diodes (LEDs; e.g., 365, 385, 405, and 425 nm). Photochemical mechanisms were investigated by UV–vis spectra, molecular orbital calculations, fluorescence, cyclic voltammetry, and electron spin resonance spin‐trapping analyses. Compared with commercial PAGs, the prepared conjugated sulfonium salt generated H+, which can be used as photoinitiator. Moreover, the fluorescent byproducts from photodecomposition can be used as photosensitizer of commercial iodonium salt in the photoinitiating systems of CP. These novel D‐π‐A type sulfonium‐based photoinitiating systems are efficient (epoxide conversion = 85–90% and vinyl conversion >90%; LEDs upon exposure to 365–425 nm) even in low‐concentration initiators (1%, w/w) and low curing light intensities (10–40 mW cm−2). © 2016 Wiley Periodicals, Inc. J. Polym. Sci., Part A: Polym. Chem. 2016, 54, 2722–2730