The dehydrogenation of bioethanol to acetaldehyde and hydrogen is a sustainable process, owing to the atom‐economical transformation and easy separation of the products. However, oxide‐supported Cu catalysts show a low selectivity to acetaldehyde because of considerable side reactions caused by their oxygen‐rich surfaces. A conventional carbon‐supported Cu catalyst shows high selectivity, but is quickly deactivated owing to the migration and agglomeration of copper particles. Here, we have produced a highly porous nitrogen‐rich carbon support that contains 6.2 wt % N and can nicely disperse and stabilize Cu nanoparticles (∼6.3 nm). If used for ethanol dehydrogenation, approximately 98 % selectivity to acetaldehyde has been achieved, with excellent anti‐agglomeration ability for as long as 500 min. X‐ray photoelectron spectroscopy (XPS) data prove that electrons transfer to the Cu particles from the N sites. Theoretical calculations further show that nitrogen sites enhance the adsorption of Cu20 clusters and can stabilize them against coalescence and that graphitic‐N sites (approximately 40 % of total N content) are the most significant.