The generation, manipulation, and detection of polarized light are the foundations of spin optoelectronics. Polarized light has a wide range of applications in new‐generation information transmission, storage, and quantum communications. Hybrid organic–inorganic halide perovskites have attracted extensive attention recently because of their strong spin–orbit coupling, Rashba splitting, spin‐dependent optical selection, and have been regarded as promising candidates for application in spin optoelectronic devices. Herein, the authors report the successful synthesis of 2D layered lead halide perovskites (PEA)2PbI4 (PEI) doped with magnetic metal Co2+ and the observation of strong circularly polarized photoluminescence and photoresponse. The introduction of magnetic metals in perovskites can induce an analogous Zeeman effect in the system, which can increase its energy degeneracy, giving rise to an imbalanced population of electronic spin states, thereby enhancing the spin polarization in doped samples. Thus, a maximum circularly polarized PL of 35% is observed at room temperature. Moreover, the achieved Co2+‐doped (PEA)2PbI4 also exhibits a selective photoresponse with circularly polarized light (CPL) emission, and an outstanding anisotropy factor of 0.41 for photocurrent is achieved. The experimental results lay the foundation for the controlled synthesis of magnetically doped perovskites as well as applications for direct CPL detection in spin optoelectronics.