Combined photothermal/photodynamic therapy is a promising strategy to achieve an enhanced anticancer effect. However, hypoxia is one of the representative characteristics of the microenvironment of solid tumors, which not only attenuates the therapeutic effects but also promotes tumor invasion and metastasis. Herein, a PtBi-β-CD-Ce6 nanoplatform for the generation of sustained O2 was constructed for more effective tumor therapy. In detail, the catalase (CAT)-like nanozyme, PtBi, which could decompose H2O2 to produce O2, was modified with β-cyclodextrin (β-CD). O2 would be converted into 1O2 by PtBi-β-CD-Ce6 for enhanced photodynamic therapy (PDT) under 650 nm laser irradiation. In addition, by reason of excellent absorption in the near-infrared-II (NIR-II) region, PtBi-β-CD-Ce6 was used for photoacoustic imaging (PA) and photothermal imaging (PT)-guided photothermal therapy (PTT) in the NIR-II biowindow. Furthermore, PtBi-β-CD-Ce6 could be elected to serve as a contrast agent for X-ray computed tomography (CT) imaging due to the apparent X-ray attenuation capability of the Pt and Bi elements themselves. Therefore, by integrating the advantages of overcoming the hypoxia function and photothermal effect into a single nanoplatform, PtBi-β-CD-Ce6 showed an immense possibility in multimodal imaging-guided combined PDT/PTT.