A series of 1,2‐bis(arylimino)acenaphthylenes (L1–L5) was synthesized and reacted with CoCl2 to afford the corresponding cobalt complexes LCoCl2 (C1–C5). All cobalt complexes have been fully characterized and in the case of C1 by single crystal X‐ray diffraction; its molecular structure reveals a distorted tetrahedral geometry. On activation with AlEtCl2, C1–C5 efficiently polymerize isoprene to give polyisoprenes (PIs) with high contents of cis‐1,4 units (between 90% and 94%). The influence of reaction temperature and [Al]/[Co] molar ratio on both catalytic performance and the microstructural properties of the PIs is investigated. © 2016 Wiley Periodicals, Inc. J. Polym. Sci., Part A: Polym. Chem. 2016, 54, 3609–3615.