A novel metal‐organic framework (MOF) assembled by a semi‐rigid tricarboxylate, namely, 5‐(3,4‐dicarboxylphenoxy) nicotic acid (H3L) has been solvothermally synthesized: [Zn3(L)2(H2O)2] ⋅ 3H2O 1. Single‐crystal X‐ray diffraction analysis indicates that MOF 1 shows 2‐D layer with quadrangle channels along the a axis (ca. 7.0×8.3 Å2). The 2‐D layer self‐assembles into a final 3‐D supramolecular network via the interlayer π⋯π interactions. The photoluminescence investigations indicate that 1 can selectively and sensitively detect acetylacetone (acac) with high KSV value of 3.597×104 M−1 and low limit of detection (LOD) of 50.77 ppb. Further mechanism studies have shown that static photo‐competitive absorption, photoinduced electron transfer and H‐bonding interaction between chemosensor and the analyte may be the primary causes of the fluorescence quenching effect for acac.