Quinazolines are biologically potent heterocyclic compounds; however, their synthesis poses high challenges. In this present study, we have developed an inexpensive cobalt metal‐catalyzed acceptorless dehydrogenative pathway for the sequential synthesis of alkenylated quinazolines from benzhydrol via dehydrogenation, cyclization, and subsequent dehydrogenative sp3 C−H functionalization. This transformation holds potential owing to its commercially available key starting materials, good functional tolerance, moderate reaction conditions, environmental friendliness, and applicability for gram‐scale synthesis. Furthermore, the synthetic utility of the synthesized derivatives has been explored through various reactions, including reduction, halogenation, methoxylation, Michael addition, and spiro cyclization. Additionally, the photophysical properties indicate that the nitrogen atom of the synthesized derivatives readily undergoes a reversible protonation, leading to significant changes in colour. This characteristic presents an opportunity for the creation of pH sensors with colourimetric capabilities.