New complexes with 5(3)‐(2‐hydroxyphenyl)‐3(5)‐methylpyrazole (H2phpz), [Co2(H2phpz)(Hphpz)2(phpz)2]·3CH3CN (1), [Ni(Hphpz)2] (2) and [Cu(Hphpz)2] (3), were synthesized and structurally characterized. The ligand coordinates in the form of 3‐(2‐hydroxyphenyl)‐5‐methylpyrazole in all cases, except for one ligand in the CoIII complex, where it coordinates in the 5‐(2‐hydroxyphenyl)‐3‐methylpyrazole mode. Crystallographic analysis revealed that 1 contains two chemically and crystallographically distinct cobalt(III) ions triply bridged by one phenoxide and two pyrazolate groups, giving rise to a [Co2(N‐N)2O] core with a Co···Co distance of 3.154 Å. Additionally, the H2phpz ligand shows four different coordination modes with the metal ions, demonstrating its versatility. The dinuclear unit of 1 is stabilized by strong intramolecular N–H···O hydrogen‐bonding interactions involving the phenol oxygen atom of the H2phpz ligand and the N–H functionality of the pyrazole ring. The crystal structure of the isomorphous complexes 2 and 3 reveals the presence of centrosymmetric mononuclear units with the MN2O2 [M = NiII (2), CuII (3)] chromophore displaying a slightly distorted square‐planar geometry. The mononuclear structures of 2 and 3 are further stabilized by intramolecular hydrogen bonds established between the acid N–H group as donor and the phenoxide group of the H2phpz ligand as acceptor. Spectroscopic studies, ESI‐MS and cyclic voltammetry were performed, supporting the crystallographic analysis. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2007)