A persistent photoconductivity is observed in the transport of the high mobility two‐dimensional electron gas in In0.53Ga0.47As/InP heterostructures. Low field Hall measurements from 300 to 4.2 K and the quantized Hall effect in the high field limit are studied with radiation from visible and infrared light‐emitting diodes. Our results demonstrate conclusively that the effect is due to photogeneration of electron‐hole pairs in the heterostructure and trapping of holes in the In0.53Ga0.47As.