An alternative green protocol for the synthesis of a series of biologically relevant biscoumarin derivatives, 3,3′‐(arylmethylene)bis(4‐hydroxy‐2H‐chromen‐2‐one) (3), has been developed from a one‐pot pseudo‐three component reaction between 4‐hydroxycoumarin (1) and diverse aromatic aldehydes (2) using ceric ammonium nitrate (CAN) as a cheap, eco‐friendly and reusable catalyst in aqueous medium under ambient conditions. The salient features of this protocol are the use of readily available low‐cost and environmentally benign catalyst, use of water as green reaction media, clean reaction profile, high atom‐economy, column‐free purification avoiding the use of toxic organic solvents, large‐scale synthetic applicability, and good to excellent yields.