Lithium‐sulfur (Li‐S) batteries, with their high theoretical energy density and cost‐effectiveness, have become one of the most promising next‐generation energy storage devices. However, they still face challenges such as the “shuttle effect” caused by the dissolution of polysulfide intermediates and the slow sulfur conversion kinetics. In this study, based on the Co7Fe3 alloy catalyst, additional Co metal is introduced to form a Co7Fe3Co catalyst with a heterostructure through a simple heat treatment process. This catalyst is incorporated into Ketjenblack (KB) to form a sulfur‐infused cathode material (designated as S/KB/Co7Fe3Co). Li‐S batteries using S/KB/Co7Fe3Co as the cathode demonstrate outstanding electrochemical performance, maintaining a reversible specific capacity of over 500 mAh g−1 after 1000 cycles at a current density of 1 C, with a capacity decay rate of 0.046% per cycle. DFT theoretical calculations and experimental results both reveal that the introduction of additional Co effectively regulates the d‐band center of the material, enhancing the adsorption of polysulfide intermediates by Co7Fe3Co and promoting bidirectional catalytic sulfur conversion. This work highlights the importance of the simple construction of heterostructured catalytic materials and their role in improving the performance of Li‐S batteries.