Ring‐opening of phenol in wastewater is the pivotal step in photocatalytic degradation. The highly selective generation of catalytical active species (•OH) to facilitate this process presents a significant scientific challenge. Therefore, a novel approach for designing photocatalysts with single‐atom containment in COFs (M‐COFs) is proposed. The selection of imine‐linked COFs containing abundant N and O‐chelate sites provides a solid foundation for anchoring metal atom. These dispersed metal atom possess rapid accumulation and transfer capabilities for photogenerated electrons, while the periodic π‐conjugated structure in 2D‐COFs establishes an effective platform. Additionally, the Lewis acid properties of imine bonds in COFs can enhance the adsorption capacity towards gases with Lewis base properties such as O2 and N2. It has been demonstrated that the Pd2+@Tp‐TAPT, designed based on this concept, exhibits efficient oxygen adsorption and follows the reaction pathway of O2→•O2−→H2O2→•OH with high selectivity, thereby achieving completely degradation of refractory phenol through photocatalysis within 10 mins. We anticipate that the selective generation of catalytic active species via advanced material design concepts will serve as a significant reference for achieving precise material catalysis in the future.This article is protected by copyright. All rights reserved