A covalent organic polymer (COP) is prepared by crosslinking the photosensitizer 4,4′,4′′,4′′′‐(porphyrin‐5,10,15,20‐tetrayl)tetraaniline (TAPP) with 4,4′‐(anthracene‐9,10‐diyl)dibenzoic acid (ADDA) via 1‐ethyl‐3‐(3‐dimethylaminopropyl)carbodiimide/4‐dimethylaminopyridine coupling. The COP is further modified with a hydrophilic polymer, poly(poly(ethylene glycol) methyl ether methacrylate) by grafting‐from reversible‐addition‐fragmentation chain transfer (RAFT) polymerization to enhance its solubility in various solvents. The modified COP can bind singlet oxygen through the formation of endoperoxide by ADDA upon the exposure to red light irradiation. Singlet oxygen can be then released via the photodynamic mechanism or the cycloreversion by endoperoxide when heated at 110 °C. These results open new possibilities for simultaneous generation of singlet oxygen by the photodynamic route and singlet oxygen carriers, demonstrating promise for treating hypoxic tumors.