A one‐pot, multistep synthesis of acridine‐1,8(2H,5H)‐diones ( 4a–m ) was achieved by three‐component reaction of dimedone ( 1 ) with an aromatic aldehyde ( 2a–m ) and an ammonium acetate ( 3 ) using water as a green solvent without any catalyst and a simple, easily handled, and ultrasonic technique as well as conventional method.