The pursuit of straightforward and cost‐effective methods for synthesizing high‐performance anode materials for lithium‐ion batteries is a topic of significant interest. This study elucidates a one‐step synthesis approach for a conversion composite using glow discharge in a nickel formate solution, yielding a composite precursor comprising metallic nickel, nickel hydroxide, and basic nickel salts. Subsequent annealing of the precursor facilitated the formation of the Ni@NiO composite, exhibiting exceptional electrochemical properties as anode material in Li‐ion batteries: a capacity of approximately 1000 mAh·g−1, cyclic stability exceeding 100 cycles, and favorable rate performance (200 mAh·g−1 at 10 A·g−1). Comparative analysis across various methods for synthesizing NiO‐based materials underscored the superiority of the Ni@NiO composite. Furthermore, an assessment of resource costs demonstrated the cost‐effectiveness and scalability of the approach in terms of resource consumption per Ah. Lastly, the integration of a Ni@NiO anode with an NMC532 cathode in a full battery highlights Ni@NiO's potential for conversion anodes, achieving a practical gravimetric energy density of 92 Wh kg−1.