SummaryRecently, the low earth orbit (LEO) satellite has attracted much attention due to its advantages of low latency and construction costs. However, the scarcity of frequency spectrum resources has resulted in these satellites sharing the same spectrum to provide services for ground users. So, challenges such as overlapping beam coverage and inter‐beam interference occur in the multi‐beam LEO satellite coexistence scenario. Therefore, this paper focuses on the issue of interference coexistence in LEO and LEO (LEO–LEO) co‐existing scenario, where the initially established system is the primary system, and the later established system is the secondary system. The interference coexistence problem is modeled as a multi‐objective optimization problem. The joint beam power and pointing management (JBPPM) based on particle swarm optimization (PSO) is proposed. The power control is applied to the LEO satellites in the secondary system to reduce the interference to the primary system user. Meanwhile, beam pointing optimization is adopted by the LEO users in the secondary system to avoid interference from the primary system and ensure the minimum communication ability. The simulation results verify that the proposed technique can adapt to various coexistence conditions and outperform the existing method.