On the basis of thermal etching bulk graphitic carbon nitride (g‐C3N4), a mild hydrochloric acid treatment method was used in this work to produce g‐C3N4 nano‐sheets (CNNS) and further carbon nitride with chloride‐modification (CNCl). The latter has thinner layer and smaller particle size and exhibit greatly improved dispersibility and solubility in water, DMSO and other polar solvents. A typical photocatalytic reaction in solution driven by CNCl shows a significantly improved photocatalytic performance over bulk g‐C3N4 and CNNS. Steady‐state analytical tools including SEM, mass, UV‐Vis and IR spectroscopies, and time‐resolved two‐dimensional infrared (2D IR) vibrational spectroscopy, were used together in this work. Better solubility, more flexible structure, smaller size, easier generation of free radicals and lower recombination rate of electron‐hole pair, are believed to be reasons for the superior photocatalytic performance of CNCl.