A novel palladium‐acid co‐catalyzed C(sp)−C(sp2) cleavage of alkynoates for the construction of dibenzo[c,h]xanthene derivatives is reported. A catalytic amount of triflic acid (TfOH) afforded an efficient transformation into the final product. Furthermore, a reduction process of alkynoates was observed during the formation of dibenzo[c,h]xanthene, preliminary mechanistic studies indicated that the