The two SARS‐CoV‐2 proteases,
i. e
. the main protease (M
pro
) and the papain‐like protease (PL
pro
), which hydrolyze the viral polypeptide chain giving functional non‐structural proteins, are essential for viral replication and are medicinal chemistry targets. We report a high‐throughput mass spectrometry (MS)‐based assay which directly monitors PL
pro
catalysis
in vitro
. The assay was applied to investigate the effect of reported small‐molecule PL
pro
inhibitors and selected M
pro
inhibitors on PL
pro
catalysis. The results reveal that some, but not all, PL
pro
inhibitor potencies differ substantially from those obtained using fluorescence‐based assays. Some substrate‐competing M
pro
inhibitors, notably PF‐07321332 (nirmatrelvir) which is in clinical development, do not inhibit PL
pro
. Less selective M
pro
inhibitors,
e. g
. auranofin, inhibit PL
pro
, highlighting the potential for dual PL
pro
/M
pro
inhibition. MS‐based PL
pro
assays, which are orthogonal to widely employed fluorescence‐based assays, are of utility in validating inhibitor potencies, especially for inhibitors operating by non‐covalent mechanisms.