Fluorine substituents in transition metal catalysts are of great importance in olefin polymerization catalysis; however, the comprehensive effect of fluorine substituents is elusive in seminal late transition metal α‐diimine catalytic system. In this contribution, fluorine substituents at various positions (ortho‐, meta‐, and para‐F) and with different numbers (Fn; n=0, 1, 2, 3, 5) were installed into the well‐defined N‐terphenyl amine and thus were studied for the first time in the nickel α‐diimine promoted ethylene polymerization and copolymerization with polar monomers. The position of the fluorine substituent was particularly crucial in these polymerization reactions in terms of catalytic activity, polymer molecular weight, branching density, and incorporation of polar monomer, and thus a picture on the fluorine effect was given. As a notable result, the ortho‐F substituted α‐diimine nickel catalyst produced highly linear polyethylenes with an extremely high molecular weight (Mw=8703 kDa) and a significantly low degree of branching of 1.4/1000 C; however, the meta‐F and/or para‐F substituted α‐diimine nickel catalysts generated highly branched (up to 80.2/1000 C) polyethylenes with significantly low molecular weights (Mw=20‐50 kDa).