An efficient methodology has been developed for the synthesis of 3,3‐di(indolyl)oxindoles and bis(indolyl)methanes under mild conditions. The efficient condensation reaction of indoles with isatin and aldehyde led to the corresponding derivatives in the presence of silver molybdate (Ag‐PMo12) nanocomposite and aqueous medium. In addition, the silver‐doped catalytic system enables the one‐pot formation of diindolyl derivatives with excellent yields, short reaction times and under environmental benign conditions.