Abstract A one‐pot and convenient synthesis of multisubstituted pyrazolo[3,4‐b]pyridines in moderate to high yields has been achieved by a two‐step reaction: diazo‐transfer of 5‐azido‐1‐phenylpyrazole‐4‐carboxaldehydes to ketones in ethanolic KOH to give 5‐amino‐1‐phenylpyrazole‐4‐carboxaldehyde and subsequent Friedlaender reaction of 5‐amino‐1‐phenylpyrazole‐4‐carboxaldehyde with ketones.