Superior catalytic performance for selective 1,3‐butadiene (1,3‐BD) hydrogenation can usually be achieved with supported bimetallic catalysts. In this work, Pt−Co nanoparticles and Pt nanoparticles supported on metal–organic framework MIL‐100(Fe) catalysts (MIL=Materials of Institut Lavoisier, PtCo/MIL‐100(Fe) and Pt/MIL‐100(Fe)) were synthesized via a simple impregnation reduction method, and their catalytic performance was investigated for the hydrogenation of 1,3‐BD. Pt1Co1/MIL‐100(Fe) presented better catalytic performance than Pt/MIL‐100(Fe), with significantly enhanced total butene selectivity. Moreover, the secondary hydrogenation of butenes was effectively inhibited after doping with Co. The Pt1Co1/MIL‐100(Fe) catalyst displayed good stability in the 1,3‐BD hydrogenation reaction. No significant catalyst deactivation was observed during 9 h of hydrogenation, but its catalytic activity gradually reduces for the next 17 h. Carbon deposition on Pt1Co1/MIL‐100(Fe) is the reason for its deactivation in 1,3‐BD hydrogenation reaction. The spent Pt1Co1/MIL‐100(Fe) catalyst could be regenerated at 200 °C, and regenerated catalysts displayed the similar 1,3‐BD conversion and butene selectivity with fresh catalysts. Moreover, the rate‐determining step of this reaction was hydrogen dissociation. The outstanding activity and total butene selectivity of the Pt1Co1/MIL‐100(Fe) catalyst illustrate that Pt−Co bimetallic catalysts are an ideal alternative for replacing mono‐noble‐metal‐based catalysts in selective 1,3‐BD hydrogenation reactions.