A simple, metal‐free, and effective methodology has been developed for the synthesis of coumarin and pyrazole‐fused polycyclic pyridine derivatives. This synthesis was achieved in two steps. In the first step, polycyclic fused dihydropyridine derivatives were synthesized by a one‐pot three‐component reaction of 9‐anthracene carboxaldehyde/2‐naphthaldehyde, 4‐hydroxycoumarin, and 3‐amino pyrazole in acetonitrile using a catalytic amount of p‐TSA under reflux conditions. Then, these synthesized products were further oxidized into their corresponding pyridine derivatives using 10 mol% of molecular iodine as a catalyst in DMSO at 100°C. Metal‐free reaction conditions, good yields, simple purification process, operational simplicity, and inclusion of more than one bioactive moiety such as coumarin, pyrazole, pyridine, and anthracene/naphthalene in the product are the distinguishing features of this methodology.