A series of benzo[a]chromeno[2,3‐c]phenazine derivatives were synthesized through an efficient one‐pot, multicomponent eco‐friendly reaction of 2‐hydroxynaphthalene‐1,4‐dione, o‐phenylenediamines, cyclic 1,3‐dicarbonyl compounds and aromatic aldehydes, promoted by glycerol. To the best of our knowledge this is the first catalyst free protocol for synthesis of this important scaffold having potential applications in medicinal and materials chemistry. Other important attributes of the present method are the use of glycerol as a bio‐renewable and biodegradable reaction medium‐cum‐promoter, use of readily available substrates, mild reaction conditions, operational simplicity, broad substrate scope, short reaction time, easy workup, and high yields and atom efficiency, which makes the disclosed protocol a superior alternative to existing methods.