MXene‐derived quantum dots (MQDs) have begun to attract much attention recently, but their most attractive features (i.e., optical properties) are still explored less than expected. In the present work, Ti3C2Tx MQDs with solvent‐determined optical characteristics and size distributions are prepared through solvothermal treatment of Ti3C2Tx nanosheets in various solvents. White‐emitting photoluminescence (PL) under 365 nm UV irradiation is obtained in dimethyl sulfoxide (DMSO), while blue in dimethylformamide (DMF) and ethanol, respectively. Moreover, the average diameters and quantum yields of the MQDs are 3.3 ± 0.2 nm and 10.7%; 2.5 ± 0.2 nm and 6.9%; as well as 1.8 ± 0.1 nm and 4.1% in DMF, ethanol, and DMSO, respectively. Interestingly, among a variety of metal ions, Fe3+ shows specific quenching effect toward the PL of the MQDs in DMF rather than in the other two. Moreover, electrochemiluminescence of the MQDs is observed using persulfate as coreactant for the first time. The possible mechanisms are discussed based on the combined influences of polarity, oxidation effect, and boiling point of the different solvents and the various characterizations.