Substitution of the chloro ligands of cis‐[Pt(PEt3)2Cl2] by 4‐methylthio‐2‐thioxo‐1,3‐dithiole‐5‐thiolate (L) leads to the thiolato complexes trans‐[Pt(PEt3)2ClL] (2) and trans‐[Pt(PEt3)2L2] (1), which have been characterised by X‐ray crystallography. In the solid state, the square planar arrangement is capped by an endocyclic sulfur atom of L, which gives rise to distorted square‐pyramidal and pseudooctahedral geometries for 2 and 1, respectively. Complex 1 coexists in solution with [Pt(PEt3)(η1‐L)(η2‐L)] (3), which results from the reversible dissociation of one phosphane ligand. The combination of η1‐(thiolato) and η2‐(thiolato/thioether) L in 3 has been established by variable‐temperature 1H NMR spectroscopy and crystal structure determination. The η2‐coordination mode of L is also observed in cis‐[Pt(PEt3)2L]+ (4), which results from the abstraction of the chloro ligand of 2 by excess TlPF6. An S‐demethylation reaction occurs when 1 is heated in acetonitrile to yield the structurally‐characterised dithiolene complex [Pt(PEt3)2(dmit)] (5) (dmit2– = 2‐thioxo‐1,3‐dithiole‐4,5‐dithiolate) and MeL. Treatment of cis‐[Pt(PPh3)2Cl2] with 2 equiv. of L leads to a mixture of [Pt(PPh3)2(dmit)] (6) and [Pt(PPh3)(η1‐L)(η2‐L)] (7). Complex 7 predominates in solution over its parent compound,[Pt(PPh3)2L2]. The identification of CH3Cl by 1H NMR spectroscopy proves that [Pt(PPh3)2ClL] is involved as an intermediate in the demethylation process. The reaction of L with platinum precursors that are blocked in a cis arrangement by chelation of 1,1‐bis(diphenylphosphanyl)methane (dppm) and 1,1‐bis(diphenylphosphanyl)ethane (dppe) leads to the formation of the thiolato complexes cis‐[Pt(η2‐dppm)L2] (8) and cis‐[Pt(η2‐dppe)L2] (9). The solid‐state structure of 8 reveals the occurrence of an additional weak interaction between a thiomethyl group and the platinum centre (Pt–S 3.073 Å).