By the condensation reaction of benzaldehyde with ethyl acetoacetate, malononitrile and hydrazine hydrate in the presence of FeCl2, a pyranopyrazole derivative was prepared which was then reacted with salicylaldehyde to afford nano‐Fe‐[phenylsalicylaldiminemethylpyranopyrazole]Cl2 (nano‐[Fe‐PSMP]Cl2). The prepared nano‐Schiff base complex was fully characterized using Fourier transform infrared spectroscopy, X‐ray diffraction, thermogravimetric analysis, differential thermogravimetry, scanning electron microscopy and UV–visible spectroscopy, and was used as an efficient and catalyst for the preparation of pyranopyrazoles.