The electrochemical carbon dioxide reduction reaction (E‐CO2RR) to formate is a promising strategy for mitigating greenhouse gas emissions and addressing the global energy crisis. Developing low‐cost and environmentally friendly electrocatalysts with high selectivity and industrial current densities for formate production is an ideal but challenging goal in the field of electrocatalysis. Herein, novel titanium‐doped bismuth nanosheets (TiBi NSs) with enhanced E‐CO2RR performance are synthesized through one‐step electrochemical reduction of bismuth titanate (Bi4Ti3O12). We comprehensively evaluated TiBi NSs using in situ Raman spectra, finite element method, and density functional theory. The results indicate that the ultrathin nanosheet structure of TiBi NSs can accelerate mass transfer, while the electron‐rich properties can accelerate the production of *CO2− and enhance the adsorption strength of *OCHO intermediate. The TiBi NSs deliver a high formate Faradaic efficiency (FEformate) of 96.3% and a formate production rate of 4032 µmol h−1 cm−2 at −1.01 V versus RHE. An ultra‐high current density of −338.3 mA cm−2 is achieved at −1.25 versus RHE, and simultaneously FEformate still reaches more than 90%. Furthermore, the rechargeable Zn–CO2 battery using TiBi NSs as a cathode catalyst achieves a maximum power density of 1.05 mW cm−2 and excellent charging/discharging stability of 27 h.