Current plasmonic photocatalysts are mainly based on noble metal nanoparticles and rarely work in the infrared (IR) light range. Herein, cost‐effective Bi2O3−x with oxygen vacancies was formed in situ on commercial bismuth powder by calcination at 453.15 K in atmosphere. Interestingly, defects introduced into Bi2O3−x simultaneously induced a localized surface plasmon resonance (LSPR) in the wavelength range of 600–1400 nm and enhanced the adsorption for CO2 molecules, which enabled efficient photocatalysis of CO2‐to‐CO (ca. 100 % selectivity) even under low‐intensity near‐IR light irradiation. Significantly, the apparent quantum yield for CO evolution at 940 nm reached 0.113 %, which is approximately 4 times that found at 450 nm. We also showed that the unique LSPR allows for the realization of a nearly linear dependence of photocatalytic CO production rate on light intensity and operating temperature. Finally, based on an IR spectroscopy study, an oxygen‐vacancy induced Mars‐van Krevlen mechanism was proposed to understand the CO2 reduction reactions. Bifunctional oxygen defects were created on noble‐metal‐free Bi2O3−x, which enables noble‐metal‐like localized surface plasmon resonance and enhanced CO2 adsorption properties. As a result, photocatalytic CO2‐to‐CO conversion with approximately 100 % selectivity was realized even under low‐intensity light at 940 nm, showing a quantum efficiency of 0.113 % that is 4.0 times of that at 450 nm.