Abstract Enhancing the intrinsic activity and number of catalytic sites is crucial in developing high‐performing and robust electrocatalysts. Reductionism provides a material design concept that progresses from atoms to phases and then to phase sequences. Herein, the well‐recognized high‐active (CoFe)Se 2 and multi‐site (CoFe)─N─C phases are carefully selected and creatively combined by space‐confined selenization, resulting in the (CoFe)Se 2 @(CoFe)─N─C heterogeneous nanocatalyst. This design simultaneously yields “better” and “more” catalytic active sites to enable stronger reaction kinetics with a low overpotential of 238 mV at 10 mA cm −2 for the oxygen evolution reaction. The overpotential surprisingly remained almost unchanged after an ultra‐long 500 h of continuous reaction. This ideal space‐confined combination effectively optimizes the absorption capacity and alters the rate‐determining step from *O→*OOH to *OH→*O. This work effectively demonstrates the principles of reductionism and confined engineering, opening a promising avenue for designing and constructing efficient multi‐phase catalytic nanomaterials.