Fluorination of conjugated polymers is one of the effective strategies to tune the molecular energy levels and morphology for high efficient polymer solar cells (PSCs). Herein, two novel donor‐acceptor conjugated polymers, PffBT and PBT, based on bis(3,5‐bis(hexyloxy)phenyl)benzo[1,2‐ b:4,5‐b']dithiophene and benzo[c][1,2,5]thiadiazole (BT) with or without fluorination, respectively, were synthesized, and their photovoltaic properties were compared. The polymer PffBT based on fluorinated BT showed lower frontier energy levels, improved polymer ordering, and a well‐developed fibril structure in the blend with PC71BM. As a result, the PSCs based on PffBT/PC71BM exhibit a superior power conversion efficiency (PCE) of 8.6% versus 4.4% for PBT‐based devices, due to a high space charge limit current (SCLC) hole mobility, mixed orientation of polymer crystals in the active layer, and low bimolecular recombination.