The catalytic activity of metal catalyst is closely related to its particle size. Yet, the size effect in electrocatalytic oxygen reduction reaction (ORR), an important reaction for metal‐air batteries and fuel cells, has not been clearly studied. Herein, a two‐step anchoring method is utilized to control the Fe catalyst in forms of nanoparticles (NPs), ultrasmall nanoclusters (NCTs), and isolated atoms as well as stabilized and dispersed by carbon polyhedrons interconnected with carbon nanotubes (CNTs). The uniformly distributed Fe NCTs displays superior ORR performance compared with Fe NPs, isolated Fe atoms, and commercial Pt/C. The brilliant ORR activity of Fe NCTs is a result of its unique electron structure and abundant edge and corner active sites. Due to the porous structure of carbon polyhedrons and high electron conductivity of CNTs, Fe NCTs also delivers an excellent discharge performance in zinc‐air battery with a peak power density of 213.3 mW cm−2 and long‐term stability. In these findings, a new strategy for the design of metal NCTs catalysts applied in various catalytic reactions is opened up.