Efficient 1,2‐carboboration reactions to the C=N bond of carbodiimides with 9‐borafluorenes, which give rise to cyclic borane‐amidine conjugates with a seven‐membered BNC5 ring, are reported. The resulting cyclic borane‐amidine conjugates can be hydrolyzed into an acyclic bifunctional biaryl compound carrying both boronic acid and amidine groups, rendering the utility of the two‐step protocol for the synthesis of multi‐functionalized molecular systems with a potential as a supramolecular building block. Furthermore, the conjugated structure of the cyclic boron‐amidine compounds can be changed upon alkylation of the boron atom that increases the coordination number of boron. The combination of Lewis acid (borane) and conjugated base (amidine) provides rich structural diversity of heteroatom‐containing π‐conjugated systems.