A one‐pot annulation of 1‐arylindazolones and acrylates is achieved through Ru(II)‐catalyzed sequential ortho‐alkenylation followed by oxidative intramolecular aza‐Michael addition reaction to deliver substituted indazolo[1,2‐a]indazolylidenes in good‐to‐excellent yields. The strategy showcased high functional group tolerance and the directing group ability of indazolone moiety was established for Csp2‐H bond activation.