A novel method for the preparation of iron‐ and nitrogen‐codoped carbon nanotubes (Fe‐N‐CNTs) is proposed, based on the catalytic pyrolysis of waste plastics. First, carbon nanotubes are produced from pyrolysis of plastic waste over Fe‐Al2O3; then, Fe‐CNTs and melamine are heated together in an inert atmosphere. Different co‐pyrolysis temperatures are tested to optimize the electrocatalyst production. A high doping temperature improves the degree of graphite formation and promotes the conversion of nitrogen into a more stable form. Compared with commercial Pt/C, the electrocatalyst obtained from pyrolysis at 850 °C shows remarkable properties, with an onset potential of 0.943 V versus RHE and a half‐wave potential of 0.811 V versus RHE, and even better stability and anti‐poisoning properties. In addition, zinc–air battery tests are performed, and the optimized catalyst exhibits a high maximum power density.