Extracellular vesicles (EVs) hold great potential in both disease treatment and drug delivery. However, accurate drug release from EVs, as well as the spontaneous treatment effect cooperation of EVs and drugs at target tissues, is still challenging. Here, an engineered self‐activatable photo‐EV for synergistic trimodal anticancer therapy is reported. M1 macrophage‐derived EVs (M1 EVs) are simultaneously loaded with bis2,4,5‐trichloro‐6‐(pentyloxycarbonyl) phenyl oxalate (CPPO), chlorin e6 (Ce6), and prodrug aldoxorubicin (Dox‐EMCH). After administration, the as‐prepared system actively targets tumor cells because of the tumor‐homing capability of M1 EVs, wherein M1 EVs repolarize M2 to M1 macrophages, which not only display immunotherapy effects but also produce H2O2. The reaction between H2O2 and CPPO generates chemical energy that activates Ce6, creating both chemiluminescence for imaging and singlet oxygen (1O2) for photodynamic therapy (PDT). Meanwhile, 1O2‐induced membrane rupture leads to the release of Dox‐EMCH, which is then activated and penetrates the deep hypoxic areas of tumors. The synergism of immunotherapy, PDT, and chemotherapy results in potent anticancer efficacy, showing great promise to fight cancers. Self‐activatable photo‐extracellular vesicles are constructed by loading M1‐macrophage‐derived EVs with bis2,4,5‐trichloro‐6‐(pentyloxycarbonyl)phenyl oxalate, chlorin e6, and prodrug aldoxorubicin. These skillfully engineered extracellular vesicles can actively target tumors owing to their inherent tumor‐homing ability, wherein they exhibit potent trimodal therapy effects in an intersynergistic and self‐controllable way, attributed to the interaction between the engineered EV and the special tumor microenvironment.