In this work, new naphthoquinone‐based photoinitiators are synthesized and applied for the first time in free radical photopolymerization. In the presence of acrylate monomers, these PIs display excellent photoinitiation capabilities under blue‐light LED@405 nm irradiation in a two‐component photoinitiating system in which the additive is a common iodonium salt (bis‐(4‐tert‐butylphenyl)iodonium hexafluorophosphate ‐ Iod) or a tertiary amine (ethyl 4‐dimethylaminobenzoate ‐ EDB). In controlled tests, the polymerization performance of dye4/Iod is equal to or better than that of common commercial Type II photoinitiators (2‐isopropylthioxanthone and benzophenone). Meanwhile, only a trace amount of photoinitiator is required (as low as 0.05%) to initiate the photopolymerization. It is worth noting that some of these compounds can also be used in one‐component photoinitiating system (monocomponent Type II behavior) and exhibit high photoinitiation ability. A series of complementary characterization analyses of two new naphthoquinone dyes (i.e. dye 1 and dye 4) with very similar chemical structures are carried out to investigate the relevant photochemical mechanism. Finally, 3D printing experiments are carried out by a simple and convenient Direct Laser Write (DLW) technique.