Most 3d metal-based single-molecule magnets (SMMs) use Nligands or ligands with even softer donors to impart a particular coordination geometry and increase the zero-field splitting parameter |D|, while complexes with hard O-donor ligands showing slow magnetization relaxation are rare. Here, we report that a diamagnetic Ni II complex of a tetradentate ligand featuring two N-heterocyclic carbene and two alkoxide-O donors, [L O,O Ni], can serve as a {O,O′}-chelating metalloligand to give a trinuclear complex 2) with an elongated tetrahedral {Co II O 4 } core, D = −74.3 cm −1 , and a spin reversal barrier U eff = 86.9 cm −1 in the absence of an external dc field. The influence of diamagnetic Ni II on the electronic structure of the {CoO 4 } unit in comparison to [Co(OPh) 4 ] 2− (A) has been probed with multireference ab initio calculations. These reveal a contrapolarizing effect of the Ni II , which forms stronger metal−alkoxide bonds than the central Co II , inducing a change in ligand field splitting and a 5-fold increase in the magnetic anisotropy in 2 compared to A, with an easy magnetization axis along the Ni−Co−Ni vector. This demonstrates a strategy to enhance the SMM properties of 3d metal complexes with hard O-donors by modulating the ligand field character via the coordination of diamagnetic ions and the benefit of robust metalloligands in that regard.