The pursuit of highly efficient thermally activated delayed fluorescence (TADF) emitters with two‐photon absorption (2PA) character is hampered by the concurrent achievement of a small singlet‐triplet energy gap (ΔEST) and high photoluminescence quantum yield (ФPL). Here, by introducing a terephthalonitrile unit into a sterically crowded donor‐π‐donor structure, inducing a hybrid electronic excitation character, we designed unique TADF emitters possessing 2PA ability. This rational molecular design was achieved through a main π‐conjugated donor‐acceptor‐donor backbone in line with locally excited feature renders a large oscillator strength and transition dipole moment, maintaining a high 2PA cross‐section value. The ancillary N‐donor‐acceptor‐donor with charge transfer character highly balances the TADF phenomenon by minimizing ΔEST. A near‐unity ФPL value with a large radiative decay rate over an order of magnitude higher than the intersystem crossing rate and a high horizontal orientation ratio of 0.95 were simultaneously attained for TPCz2NP. The organic light‐emitting diodes fabricated with this material exhibit a high maximum external quantum efficiency of 25.4% with an elevated 2PA cross‐section (σ2) value up to 143 GM at 850 nm. These findings offer a venue for designing high‐performance TADF emitters with exceptional performance inclusive of 2PA properties, expanding for future functional material design.
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