This study presents the synthesis and electrocatalytic performance of the cobalt(III) complex [Co3(μ1,1,1‐O)(μ1,3‐CH3CO2)(L)3]2(DMF)3 (Cotri), featuring a double deprotonated (N,O)‐donor ligand (L2‐), where the protonated form of it (H2L) is 2,2′‐(hydrazine‐1,2‐diylidenebis(ethan‐1‐yl‐1‐ylidene))diphenol. The X‐ray structure reveals a trinuclear cobalt cluster formed with three cobalt(III) centers interlinking through oxido (μ1,1,1‐O) and acetato (μ1,3‐O2CCH3) bridges in coupling with bis‐congregator‐type chelating ligands. Cotri adopts cobalt centers of octahedral and trigonal bipyramidal coordination geometries and bears a dominant Co(2)…H(DMF) agostic interactions appraised by lattice dimethyl formamide (DMF) molecules. Further, Cotri shows promising heterogeneous electrocatalytic hydrogen evolution activity in 1 M KOH, with an overpotential of 441 mV to achieve 10 mA/cm2 current density. Tafel slope analysis suggests the Volmer–Heyrovsky step as the rate‐determining step. The number of active sites and TOF for Cotri were estimated at 4.010 × 10−8 mol and 0.2467 s−1, respectively, ensuring its excellent hydrogen generation activity. Stability assessments through controlled potential electrolysis (CPE) and cyclic voltammetry (CV) for multiple cycles addressed the transformation of Cotri to Co2O3 nanoparticles, which turned out to be a more active Co2O3 electrocatalyst. The morphology and particle size of the in situ developed Co2O3 active catalyst under the electrochemical conditions attributes to the superior hydrogen evolution activity.