CO2 electroreduction into liquid fuels is of broad interest and benefits reducing the energy crisis and environment burdens. CuS has been reported to be a desirable candidate for CO2 electroreduction into formate, however, its formate selectivity and stability are still far from the demands of practical application. Herein, we report CuS nanoparticles exhibiting good Faradic efficiency of formate (about 98%) in CO2 electroreduction and its deactivation mechanism during the reaction. The deactivation of CuS has been found to associate with the reconstruction and S loss of CuS which deteriorates the Faradic efficiency of formate. Combined with ionic and gas analyses, the S element in CuS was lost in the form of H2S, SO2, and SO42‐, followed by the reconstruction of CuS into copper oxides. Such a catalyst reconstruction facilitates electro‐reductions of CO2 and H2O respectively into CO and H2, etc., making the degradation of catalytical performance of CO2 electroreduction into formate. This work reveals the important role of S loss and reconstruction of metal sulfide catalysts during the electroreduction reaction, which may benefit the further development of CuS‐based electro‐catalyst for CO2 electroreduction.