The two tetradentate ligands H2L and H2LMe afford the slightly distorted square‐planar low‐spin NiII complexes 1 and 2, which comprise two coordinated phenolate groups. Complex 1 has been electrochemically oxidized into 1+, which contains a coordinated phenoxyl radical, with a contribution from the nickel orbital. In the presence of pyridine, 1+ is converted into 1Py+, an octahedral phenolate nickel(III) complex with two pyridines axially coordinated: An intramolecular electron transfer (valence tautomerism) is promoted by the geometrical changes, from square planar to octahedral, around the metal center. The tetradentate ligand H2LMe, in the presence of pyridine, and the hexadentate ligand H2LPy in CH2Cl2 afford, respectively, the octahedral high‐spin NiII complexes 2Py and 3, which involve two equatorial phenolates and two axially coordinated pyridines. At 100 K, the one‐electron‐oxidized product 2Py+ comprises a phenoxyl radical ferromagnetically coupled to the high‐spin NiII ion, with large zero‐field splitting parameters, while 3+ involves a phenoxyl radical antiferromagnetically coupled to the high‐spin NiII ion.