Acoustic metamaterials have been widely studied for their excellent ability of vibration isolation. In this article, a 2D square lattice acoustic metamaterial structure with multiembedded cores is proposed. Based on Bloch's theorem and finite element method, the band structures and bandgap properties of the structure are calculated and analyzed, and the vibration isolation ability of the structure is investigated. The effects of structural parameters on the bandgap property are analyzed. Thus, the anisotropy of the structure is also analyzed by the contours of phased velocity and group velocity. The results show that the structure has significant bandgap properties and vibration isolation. The second‐order similarity ratio has significant effects on the bandgap property. Via increasing the second‐order similarity ratio, the total bandgap width and low‐frequency bandgap width are widened. In addition, the structure has significant anisotropy, and the energy of elastic wave propagates at the direction of 45° and 135°. The research in this article supplements the design and research of 2D lattice acoustic metamaterials and makes a beneficial exploration for future engineering applications.