An efficient and green strategy for the improved synthesis of a biologically and pharmaceutically interesting multi‐functionalized diverse novel spiro‐benzo[a]phenazine annulated heterocycles was developed with the assistance of microwave irradiation. A sequential one‐pot, two‐step domino reaction starting from 2‐hydroxynaphthalene‐1,4‐dione, benzene‐1,2‐diamines, a cyclic carbonyl compound, and 1,3‐indandione in the presence of a basic ionic liquid (1‐butyl‐3‐methylimidazolium hydroxide) as an expedient, ecofriendly and reusable catalyst afforded the corresponding novel spiro[benzo[a]indeno[2′,1′:5,6]pyrano[2,3‐c]phenazine] derivatives with high yield under solvent‐free conditions. This domino Knoevenagel–Michael annulation reaction provided five new bonds (two C–C, two CN, and one C–O) and two new rings through multiple operations in a single flask.