The Schmidt reaction (treatment of a ketone with sodium azide and a mineral acid) is an alternative to the Beckmann rearrangement to expand a cyclic ketone to a lactam. However, when applied toward the conversion of a synthetic porphyrin into a derivative containing a nonpyrrolic building block, this approach failed to generate the expected lactam. Instead, by using sulfuric acid as a catalyst, a novel heptaethyl‐2‐hydroxy‐chlorin‐3‐one was formed, structurally characterized, and its mechanism of formation deduced. The work demonstrates how the extraordinary structural stability of the porphyrin macrocycle redirects the reactivity patterns of classic ring‐expansion reactions. By using hydrochloric acid as a catalyst, a somewhat regioselective chlorination of the meso‐positions of the oxochlorin was observed. The halogenation sites were determined spectroscopically and by X‐ray crystallography of selected derivatives. The regioselectivity of the halogenation was computationally rationalized. This method is superior to alternative halogenation methods for the regioselective generation of 5‐chloro‐, 10‐chloro‐, and 5,10‐dichlorooxochlorins.