Coordination‐insertion copolymerization of norbornene (N) and p‐substituted styrene (XS) (X = MeO, Me F, Cl, and Br) is carried out using anilinonaphthoquinone‐ligated nickel complexes [Ni(C10H5O2NAr)(Ph)(PPh3): 1a, Ar = C6H3‐2,6‐iPr; 1b, Ar = C6H2‐2,4,6‐Me; 1c, Ar = C6H5] with modified methylaluminoxane (MMAO) as a cocatalyst. The ligand of the nickel complex affects the catalytic activity. The effect of the p‐substituent on the activity is remarkable and the activity decreases in the following order, Br > Cl > F > Me > MeO. The molecular weight of the produced polymer also decreases with the same order. The activity increases with raising the temperature from 0 to 70 °C accompanied by the decrease in the molecular weight of the produced polymers. The incorporation of XS determined by 1H and 13C NMR decreases in the following order, MeO ≥ Me > F > Cl > Br. The glass transition temperatures of the N/XS copolymers determined by differential scanning calorimetry show a broad range from 120 to 365 °C according to the XS content.