We report the design and synthesis of cobalt complexes of L 2 X-type ligands for olefin hydroboration guided by the consideration of catalyst stability. Among the series of PCPligated Co(II) and Co(III) pincer complexes, the complex with iPr phosphino substituents exhibits broad scope, high functional group tolerance, and high catalytic activity at ppm catalyst loadings (17 ppm, 0.001 mol %) in the hydroboration of terminal olefins with pinacolborane (HBpin), furnishing anti-Markovnikov addition products. We also show that linear-selective hydroboration occurs with internal acyclic olefins at elevated temperatures, including those conjugated with the arene or carbonyl groups that are difficult to be achieved by previous catalysts. Such a catalytic property makes this cobalt catalyst suitable for terminally selective formal borylation of arylalkane through the dehydrogenation−hydroboration sequence. Experimental mechanistic data provide evidence for the involvement of a Co(II) hydride intermediate. Deuterium-labeling experiments show that the formation of terminal alkylboronate ester from internal olefins likely proceeds via the initial generation of secondary alkyl species, followed by chainwalking to form primary alkyl species, which then reacts with HBpin to produce the linear product and regenerate the hydride species.