The general synthesis and control of the coordination environment of single‐atom catalysts (SACs) remains a great challenge. Herein, a general host–guest cooperative protection strategy has been developed to construct SACs by introducing polypyrrole (PPy) into a bimetallic metal–organic framework. As an example, the introduction of Mg2+ in MgNi‐MOF‐74 extends the distance between adjacent Ni atoms; the PPy guests serve as N source to stabilize the isolated Ni atoms during pyrolysis. As a result, a series of single‐atom Ni catalysts (named NiSA‐Nx‐C) with different N coordination numbers have been fabricated by controlling the pyrolysis temperature. Significantly, the NiSA‐N2‐C catalyst, with the lowest N coordination number, achieves high CO Faradaic efficiency (98 %) and turnover frequency (1622 h−1), far superior to those of NiSA‐N3‐C and NiSA‐N4‐C, in electrocatalytic CO2 reduction. Theoretical calculations reveal that the low N coordination number of single‐atom Ni sites in NiSA‐N2‐C is favorable to the formation of COOH* intermediate and thus accounts for its superior activity.