AbstractAmong the foreseeable therapeutic approaches at the cellular level, nanoplatform‐driven photothermal therapy is a thriving tool for the selective eradication of malignant tissues with minimal side effects to healthy ones. Hence, chemically versatile, near‐infrared absorbing plasmonic nanoparticles are distinctly appealing and most sought after as efficient photothermal agents. In this work, a straightforward method to synthesize monodisperse PEGylated copper sulfide nanoparticles of pure covellite (CuS) phase, featuring strong localized surface plasmonic resonance absorption in the near‐infrared and flexible surface chemistry, imparted by monomethyl ether polyethylene glycol molecules, is developed and optimized. These nanoparticles show a remarkable photothermal heat conversion efficiency (HCE) of 71.4%, which is among the highest for CuS systems and rivals that of plasmonic noble metal nanostructures. Moreover, through critical evaluation and mathematical modeling of the material's properties and measurement methodology, it is assessed that the calculated HCE values drastically depend on experimental conditions such as wavelength‐dependent solvent absorption properties, sol concentration, and optical path. These findings are of paramount relevance to the photothermal community, since they call for a standardization of the procedure for the evaluation of the HCE of proposed photothermal agents, in order to make the reported values universally and reliably comparable.