Diabetic wound healing remains challenging owing to the risk for bacterial infection, hypoxia, excessive glucose levels, and oxidative stress. Glucose‐activated cascade reactions can consume glucose and eradicate bacteria, avoiding the direct use of hydrogen peroxide (H2O2) and wound pH restriction on peroxidase‐like activity. However, the anoxic microenvironment in diabetic wounds impedes the cascade reaction due to the oxygen (O2) dependence of glucose oxidation. Herein, defect‐rich molybdenum disulfide nanosheets loaded with bovine serum albumin‐modified gold nanoparticle (MoS2@Au@BSA NSs) heterostructures are designed and anchored onto injectable hydrogels to promote diabetic wound healing through an O2 self‐supplying cascade reaction. BSA decoration decreases the particle size of Au, increasing the activity of multiple enzymes. Glucose oxidase‐like Au catalyzes the oxidation of glucose into gluconic acid and H2O2, which is transformed into a hydroxyl radical (•OH) catalyzed by peroxidase‐like MoS2@Au@BSA to eradicate bacteria. When the wound pH reaches an alkalescent condition, MoS2@Au@BSA mimicks superoxide dismutase to transform superoxide anions into O2 and H2O2, and decomposes endogenous and exogenous H2O2 into O2 via catalase‐like mechanisms, reducing oxidative stress, alleviating hypoxia, and facilitating glucose oxidation. The MoS2@Au@BSA nanozyme‐anchored injectable hydrogel, composed of oxidized dextran and glycol chitosan crosslinked through a Schiff base, significantly accelerates diabetic wound healing.