Some children enter elementary school with large vocabulary delays, which negatively influence their later school performance. A rich home language environment can support vocabulary development through frequent high‐quality parent–toddler interaction. Elaborated picture home activities can support this rich home language environment. This study compares the effects of a multimedia versus a paper elaborated picture on the parent–toddler interaction and toddlers' vocabulary development. In a within‐subjects design, 20 toddlers (age 3–4) discussed a multimedia and a paper elaborated picture with a parent. Results showed that toddlers knew significantly more words (receptively and expressively) after both activities. Moreover, the improvement in receptive vocabulary knowledge was significantly larger with the multimedia elaborated picture compared with the paper‐based picture. In addition, both parent and toddler engaged in a significant higher level of decontextualized language in response to multimedia. The present study shows that multimedia elaborated pictures can support parents at home to engage in a parent–toddler interaction that is richer and supports the development of receptive vocabulary more compared with traditional paper‐based activities. In the future, multimedia‐based home activities for toddlers' vocabulary development, supporting parent–child interaction, can be offered relatively cheap and easily via internet.