Nanozymes, next‐generation enzyme‐mimicking nanomaterials, have entered an era of rational design; among them, Co‐based nanozymes have emerged as captivating players over times. Co‐based nanozymes were developed and have garnered significant attention over the past five years. Their extraordinary properties, including regulatable enzymatic activity, stability, and multifunctionality stemming from magnetic properties, photothermal conversion effects, cavitation effects, and relaxation efficiency, have made Co‐based nanozymes a rising star. This review presents the first comprehensive profiling of the Co‐based nanozymes in the chemistry, biology, and environmental sciences. The review begins by scrutinizing the various synthetic methods employed for Co‐based nanozyme fabrication, such as template and sol‐gel methods, highlighting their distinctive merits from a chemical standpoint. Furthermore, we provide a detailed exploration of their wide‐ranging applications in biosensing and biomedical therapeutics, as well as their contributions to environmental monitoring and remediation. Notably, drawing inspiration from state‐of‐the‐art techniques such as omics, a comprehensive analysis of Co‐based nanozymes is undertaken, employing analogous statistical methodologies to provide valuable guidance. To conclude, we present a comprehensive outlook on the challenges and prospects for Co‐based nanozymes, spanning from microscopic physicochemical mechanisms to macroscopic clinical translational applications.This article is protected by copyright. All rights reserved