A novel spin‐polarization mechanism involving the intramolecular ion pair *A.−‐D.+‐R, which competes with a spin–orbit intersystem crossing, is proposed for the formation of the uniquely spin‐polarized quartet photoexcited state observed for 1, which consists of a bodipy acceptor (A), a phenylanthracene donor (D), and a stable verdazyl radical (R).