All‐solid‐state lithium metal batteries (ASSLBs) offer an alternative route to safe and high energy density power sources. Sulfur‐based cathodes with high theoretical specific capacity and low cost are crucial for advancing ASSLBs. However, the electronic insulation and sluggish kinetics of sulfide materials like Li2S severely limit battery performance. Herein, the strategy is proposed that a highly electronic conductive Li2S‐NbSe2 material enhances the electrochemical performance through bidirectional self‐activation. The chemical interaction between Li2S and NbSe2 induces NbSe2‐xSx and Li2Se derivatization, serving as the basis for activation. The carrier transport properties, chemical evolution and self‐activation mechanism of Li2S‐NbSe2 during the oxidation–reduction process are revealed. The chemical activation of NbSe2‐xSx is explored to accelerate the electrochemical processes by modifying the conductivity of sulfur species and the conversion pathways without insulating Li2S and S aggregation. Therefore, ASSLBs using Li2S‐NbSe2 as cathode active material achieve an electrode‐level energy density of 394 Wh kg−1 and a power density of 524 W kg−1 at 1 C (4.35 mA cm−2) and 25 °C. The capacity retention after 100 cycles at 0.5 C is ≈99.3% with almost no degradation. This work provides new options and insights for the rational design and development of chalcogenide cathode active materials for high‐performance ASSLBs.