This study develops a series of high liposoluble near-infrared (NIR) emissive aggregation-induced emission (AIE) luminogens with triphenylamine derivatives as donor units and 1-indanone as electron acceptor units. Specifically, MTTOL exhibits promising lipid droplet (LD) targeting ability and viscosity-response characteristics, enabling real-time monitoring of LD viscosity fluctuations in living cells. In vitro and in vivo experiments demonstrate that MTTOL effectively targets and treats fatty liver tissue and tumors. MTTOL phototherapy activates apoptosis-related signaling pathways, leading to cell apoptosis, and also induces ferroptosis, synergizing with apoptosis for tumor elimination. Notably, ferroptosis enhances immunogenic cell death (ICD), promoting CD8+ T cell infiltration and reducing regulatory T cells, thereby preventing tumor metastasis. The combination of these functions results in high-efficient photodynamic therapy with a tumor inhibition rate of 90.51%. This study provides a promising platform for the development of comprehensive diagnostic and therapeutic agents for cancer.This study develops a series of high liposoluble near-infrared (NIR) emissive aggregation-induced emission (AIE) luminogens with triphenylamine derivatives as donor units and 1-indanone as electron acceptor units. Specifically, MTTOL exhibits promising lipid droplet (LD) targeting ability and viscosity-response characteristics, enabling real-time monitoring of LD viscosity fluctuations in living cells. In vitro and in vivo experiments demonstrate that MTTOL effectively targets and treats fatty liver tissue and tumors. MTTOL phototherapy activates apoptosis-related signaling pathways, leading to cell apoptosis, and also induces ferroptosis, synergizing with apoptosis for tumor elimination. Notably, ferroptosis enhances immunogenic cell death (ICD), promoting CD8+ T cell infiltration and reducing regulatory T cells, thereby preventing tumor metastasis. The combination of these functions results in high-efficient photodynamic therapy with a tumor inhibition rate of 90.51%. This study provides a promising platform for the development of comprehensive diagnostic and therapeutic agents for cancer.