Hydrogen peroxide (H2O2) is a physiological signaling molecule that plays essential roles in cellular processes but, when present in excess, induces oxidative stress and pathological damage. Aberrant mitochondrial production of H2O2 is closely associated with various diseases. In this study, we designed and synthesized a cyanine derivative-based near-infrared (NIR) fluorescent probe, WB-1. Ultraviolet-visible and fluorescence spectroscopic analyses revealed that WB-1 exhibits excellent selectivity and sensitivity for H2O2 detection, with a prominent fluorescence emission peak at 835 nm in the NIR region and a response time of 10 min. The probe exhibited a good linear response to H2O2 in the 0-20 μM range (R2 = 0.987), achieving a detection limit as low as 63 nM. Cellular experiments demonstrated that WB-1 has low cytotoxicity, selectively targets mitochondria, and enables real-time tracking of transient changes in intracellular H2O2 levels. WB-1 was successfully applied in live-cell imaging and enabled real-time H2O2 visualization in zebrafish and mice. These capabilities position WB-1 as a valuable tool for providing critical insights into the pathogenesis of H2O2-related diseases.