Lithium–sulfur (Li–S) batteries have been hindered by the shuttle effect and sluggish polysulfide conversion kinetics. Here, a P‐doped nickel tellurium electrocatalyst with Te‐vacancies (P⊂NiTe2−x) anchored on maize‐straw carbon (MSC) nanosheets, served as a functional layer (MSC/P⊂NiTe2−x) on the separator of high‐performance Li–S batteries. The P⊂NiTe2−x electrocatalyst enhanced the intrinsic conductivity, strengthened the chemical affinity for polysulfides, and accelerated sulfur redox conversion. The MSC nanosheets enabled NiTe2 nanoparticle dispersion and Li+ diffusion. In situ Raman and ex situ X‐ray absorption spectra confirmed that the MSC/P⊂NiTe2−x restrained the shuttle effect and accelerated the redox conversion. The MSC/P⊂NiTe2−x‐based cell has a cyclability of 637 mAh g‐1 at 4 C over 1800 cycles with a degradation rate of 0.0139% per cycle, high rate performance of 726 mAh g‐1 at 6 C, and a high areal capacity of 8.47 mAh cm‐2 under a sulfur configuration of 10.2 mg cm‐2, and a low electrolyte/sulfur usage ratio of 3.9. This work demonstrates that vacancy‐induced doping of heterogeneous atoms enables durable sulfur electrochemistry and can impact future electrocatalytic designs related to various energy‐storage applications.