Cobalt phosphide (CoP) has been demonstrated as a cocatalyst for visible‐light‐sensitized CO2 reduction, but just with moderate selectivity, due to the competitive H2 generation reaction. Herein, the porous N‐doped carbon (NC) layer is in situ coated on the surface of CoP nanoparticles to fabricate the core‐shell CoP@NC composite cocatalyst. Benefiting from the outstanding electric conductivity and high surface area of the NC shell, the CoP@NC hybrid attains strengthened capabilities for charge separation/transfer and CO2 capture/activation. Besides, the direct contact of CoP with H2O is prevented by the porous NC shell with high hydrophobicity. Consequently, the photosensitized CO2‐to‐CO conversion efficiency and selectivity of CoP@NC hybrid are enhanced by 2.7 and 2.4 times, respectively, compared to bare CoP.