The hydrogenation of carbon dioxide to olefins (CTO) represents an ideal pathway towards carbon neutrality. However, most current CTO catalysts require a high‐temperature condition of 300‐450°C, resulting in high energy consumption and possible aggregation among active sites. Herein, we developed an efficient iron‐based catalyst modified with high‐sodium content (7%) and low‐cobalt content (2%), achieving a CO2 conversion of 22.0% and an olefin selectivity of 55.9% at 240°C and 1000 mL/g/h, and it is even active at 180°C and 4000 mL/g/h with more than 25% olefins in hydrocarbons. The catalyst was kept stable under continuous operating conditions of 500 hours. Numerous characterizations and calculations reveal high content of sodium as an electronic promoter enhances the stability of the active anorthic Fe5C2 phase at low temperatures. Further incorporating the above catalyst with cobalt, as a structural promoter, causes Fe species to form a FexCoy alloying phase, which in turn facilitates the formation of higher active anorthic (FexCoy)5C2 phase, different from the conventional carbides and alloy carbides. An in‐depth investigation of the synergistic effects of structural and electronic promoters can improve catalyst performance, increase reaction efficiency and cost‐effectiveness, and provide profound insights for understanding and optimizing CO2 hydrogenation reactions.