In this study, cuboid‐like anhydrous CoC2O4 particles (CoC2O4‐HK) are synthesized through a potassium citrate‐assisted hydrothermal method, which possess well‐crystallized structure for fast Li+ transportation and efficient Li+ intercalation pseudocapacitive behaviors. When being used in lithium‐ion batteries, the as‐prepared CoC2O4‐HK delivers a high reversible capacity (≈1360 mAh g‐1 at 0.1 A g‐1), good rate capability (≈650 mAh g‐1 at 5 A g‐1) and outstanding cycling stability (835 mAh g‐1 after 1000 cycles at 1 A g‐1). Characterizations illustrate that the Li+‐intercalation pseudocapacitance dominates the charge storage of CoC2O4‐HK electrode, together with the reversible reaction of CoC2O4+2Li++2e−→Co+Li2C2O4 on discharging and charging. In addition, CoC2O4‐HK particles are also used together with carbon–sulfur composite materials as the electrocatalysts for lithium–sulfur (Li–S) battery, which displays a gratifying sulfur electrochemistry with a high reversibility of 1021.5 mAh g−1 at 2 C and a low decay rate of 0.079% per cycle after 500 cycles. The density functional theory (DFT) calculations show that CoC2O4/C can regulate the adsorption‐activation of reaction intermediates and therefore boost the catalytic conversion of polysulfides. Therefore, this work presents a new prospect of applying CoC2O4 as the high‐performance electrode materials for rechargeable Li‐ion and Li–S batteries.