In2O3 is loaded onto Co3O4 with diverse morphologies to prepare In2O3/Co3O4 for better understanding of the interaction between metallic Co and In2O3 in CO2 hydrogenation to methanol. After in-depth characterizations, we found that loading In2O3 on platelike Co3O4 (P–Co) can achieve more uniformly dispersed surface hexagonal In2O3 (h-In2O3) and stronger electron transfer between In2O3 and Co3O4 than Co3O4 with other morphologies. Under reaction stabilization, Co3O4 is transformed into metallic Co0, which can promote the reactivity of h-In2O3 to form cubic In2O3 (c-In2O3), accompanied by the formation of Co3InC0.75 carbide. Especially for In2O3/P–Co, stronger interaction between Co0 and c-In2O3 is formed to produce more oxygen vacancies in comparison with other samples owing to the absent of h-In2O3. Furthermore, density functional theory calculation reveals that H2 and CO2 molecules are more easily adsorbed on Co-c-In2O3 interfacial site. As a result, In2O3/P–Co exhibits the best methanol space-time yield of 11.6 mmol · gcat−1 · h−1 and excellent thermal stability for an additional continuous run of 64 h after reaction stabilization.