A convenient, green, and efficient protocol for the synthesis of diversely substituted pyrazolo‐pyrido‐pyrimidines has been described by a simple one‐pot four‐component reaction of hydrazine, ethyl acetoacetate, 6‐amino‐1‐methyluracil, and isatin or aldehyde catalyzed by iodine in water. Environmental friendliness, operational simplicity, low cost, high yields, and applicability to a wide range of readily available starting materials are the key features of this methodology. Most importantly, workup of this very clean strategy involves only filtration and simple washing step without any traditional chromatography and recrystallization purifications, thus reducing time, waste, and cost.