Nonsymmorphic symmetries play a significant role in the emergence of topological nontrivial phases in some 2D materials. Herein, a new 2D material P21/m‐MoTe2 with nontrivial topological properties and nonsymmorphic symmetries is proposed. With the help of first‐principles calculations, it is found that it is dynamically stable, and has relatively high energetic stability. When spin–orbit coupling (SOC) is ignored, this material is a semimetal with two intersects appearing on the high‐symmetry line Γ–Y. Detailed symmetry analysis reveal that they are protected by the screw operator . After SOC is turned on, it turns into a topological insulator with a global bandgap of 94 meV. The large gap ensures that the topological nontrivial phase is robust to an external perturbation. The discovery of nonsymmorphic P21/m‐MoTe2 expands the family of transition metal dichalcogenides and provides a new platform to study topological phases in 2D nonsymmorphic materials.