This study explores a new nanoplate design’s thermal and mechanical properties, including an auxetic core with a negative Poisson ratio. The core is between face plates made of Barium‐Cobalt, which possess magneto‐electroelastic properties. The analysis centers on the parameters θ, β
1
, and β
2
to clarify their influence on the nanoplate’s performance. The evaluations of the nanoplate’s thermal, electrical, and magnetic properties showcase its remarkable versatility and sensitivity. Incorporating magneto‐electroelastic face plates improves the multifunctionality of the nanoplate, making it a highly promising option for use in smart technologies. The findings offer valuable insights into the distinctive features of auxetic core structures, significantly enhancing the comprehension of these materials. This research emphasizes the potential for creating groundbreaking applications in fields like aerospace engineering and advanced electronics, where versatile and adaptable materials play a vital role. This study contributes to the broader knowledge of auxetic materials and their practical implementation in cutting‐edge technological solutions by exploring the interplay between thermal, mechanical, and magneto‐electroelastic properties.This article is protected by copyright. All rights reserved.