Quantum dots (QDs) with non‐blinking applied in bio‐imaging is important for understanding cellular dynamics by monitoring single particles in living cells. Antibunching is once believed to be applied to identify a single QD, which shows a strong dependence on the atom or ion number. However, recent works indicate that the antibunching alone may not be sufficient to demonstrate that the fluorescence comes from a single QD. To some extent, it is neither necessary nor sufficient for a single QD, though it is absolutely right for a single atom because a single QD is composed of thousands of atoms, which in principle are favorable to the formation of multi‐excitonic states. Blinking behavior, almost unobservable in ensembles due to the averaging, is characteristic of the single QD which owns the quantum effect due to its discrete energy levels. Here, a method of transformation of a single graphene quantum dot from non‐blinking to blinking via catalytic reaction to identify a single QD is reported, which can also help with understanding the catalytic dynamics of a single QD, which is a complementary means of confirming a single QD. The reported technique paves the way to understanding a single QD and its catalytic and kinetic behaviors.