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Optical multiplexing attracts considerable attention in the field of information encryption, optical probe, and time‐resolved bioimaging. However, the optical multiplexing based on rare‐earth nanoparticles suffers from heavy metal elements and relatively short lifetimes; sophisticated facilities are thus needed. Herein, time division duplexing based on eco‐friendly carbon nanodots (CNDs) with manipulative luminescence lifetimes is demonstrated. In a single green color emission channel, the luminescence lifetimes of the CNDs can be manipulated from nanosecond level to second level by introducing water, while the lifetime of the CNDs confined by a silica shell stays. Time division duplexing based on the CNDs and CNDs@silica with distinct lifetimes is realized and spatio‐temporal overlapping information is thus resolved. High‐level information encryption using the time division duplexing technology is realized. This work may promise the potential applications of CNDs in multi‐lifetime channels biological imaging, high‐density information storage, and anti‐counterfeiting. [ABSTRACT FROM AUTHOR]