This work proposes an original method that reveals the transformation dynamics of nanosized Bi films into semiconductor films of bismuth oxide (Bi2O3) and the factors affecting the low‐energy cold plasma on the electro‐optical properties of Bi2O3. In the plasma microreactor with a photosensitive GaAs:Cr electrode, the transformed Bi films 400–1100 nm thick are analyzed by X‐ray diffraction to determine the crystal structure of Bi2O3 and by an electron probe microanalyzer to explore the evolution of the composition. The morphological properties of the Bi films exposed to electron–ion flow are examined by processing the scanning electron microscope images. It is found that as a result of the combined effect of photoactive illumination, charged particles, and active plasma components: 1) an absorption spectrum of a new substance is formed in the range λ = 330–1100 nm; 2) the optical width of the bandgap of the resulting substance is Eg ≈ 3 eV, which satisfactorily coincides with the width of the bandgap of Bi2O3; and 3) to overcome the potential barrier and formation of semiconducting Bi2O3 film energy is required, which is provided by the combined kinetic energy of electrons and negatively charged oxygen ions bombarding on the Bi film.