Covalent organic frameworks (COFs) represent a new type of crystalline porous polymers that possess pre-designed skeletons, uniform nanopores, and ordered π structure. These attributes make them well-suited for the design of light-emitting materials. However, the majority of COFs exhibits poor luminescence due to aggregation-caused quenching (ACQ), resulting from the strong interaction between adjacent layers. To break the limitation, the building units with three methoxy groups on the walls are used to construct TM-OMe-EBTHz-COF, which suppresses the ACQ effects to improve light-emitting activity of COF. The TM-OMe-EBTHz-COF exhibits a notable emission of yellow-green luminescence in the solid state, with a remarkably high absolute quantum yield of 21.1%. The methoxy groups and hydrazine linkage form three coordination sites, contributing to excellent performance in metal ions sensing. The TM-OMe-EBTHz-COF demonstrates high sensitivity and selectivity to Fe³⁺ ion. Importantly, the low detection limit is below 150 nanomolar, ranking it among the best-performing Fe³⁺ sensor systems.