ABSTRACT Liver precancerous lesions carry a 60%–80% risk of malignant transformation into early‐stage hepatocellular carcinoma (HCC) within 5 years. Oxidative stress is identified as the central pathogenic mechanism driving the malignant transformation of liver precancerous lesions. γ‐Glutamyl transpeptidase (GGT) is directly implicated in oxidative stress, and mitochondrial viscosity is indicative of the outcome of oxidative stress. In this study, a dual‐responsive fluorescent probe ( CZ ) is developed based on GGT activity and mitochondrial viscosity. Utilizing CZ , it is revealed that the malignant transformation process is characterized by elevated GGT activity and increased mitochondrial viscosity. Furthermore, it is demonstrated that the repeated promotion of oxidative stress accelerates the transformation to early‐stage HCC, whereas the suppression of oxidative stress effectively inhibits the development of lesions. This study provides evidence that early‐stage HCC premalignant progression is a controllable process, and that GGT activity and mitochondrial viscosity can serve as indicators for monitoring the progression of liver precancerous lesions. CZ also exhibits potential for clinical application in the detection of early‐stage HCC and premalignant tissues in patient samples, demonstrating the feasibility of early intervention and precision medicine in early‐stage HCC management.