The present paper reports the synthesis of π‐conjugated organometallic polymer networks based on poly[2,5‐dioctyloxy‐1,4‐diethynyl‐phenylene‐alt‐2,5,‐bis(2′‐ethylhexyloxy)‐1,4‐phenylene] (EHO‐OPPE), a soluble poly(p‐phenylene ethynylene) (PPE) derivative. The ethynylene moieties of the polymer coordinate to Pt0 centers, which act as conjugated cross‐links. These materials are readily accessible through ligand‐exchange reactions between the linear PPE and Pt(styrene)3. The in‐situ NMR investigation of model reactions of Pt(styrene)3 with diphenylacetylene (DPA) has shown that the ethynylene moieties comprised in the PPE readily coordinate to Pt0 centers under release of the relatively weakly‐bound styrene ligands. Spin‐coating has resulted in cross‐linked films of good optical quality. We also have been able to produce PPE‐Pt‐gels with high solvent content (> 95 wt.‐%). As expected, the coordination of Pt markedly influences the photophysical characteristics of the PPE. The photoluminescence is efficiently quenched, and the absorption maximum in the visible regime experiences a hypsochromic shift.