The search for earth‐abundant, low‐cost, recyclable, multifunctional as well as highly active catalysts remains the most pressing demand for heterogeneous catalytic elimination of pollutants in water environment remediation. Herein, a porous graphitic carbon‐encapsulated Ni nanoparticles (NPs) hybrid (Ni@GC) is designed/constructed by direct pyrolysis of a Ni‐based metal−organic framework (MOF) in N2. The resulting Ni@GC exhibits a unique 3D hierarchical byttneria aspera‐like yolk–shell structure with a high surface area, abundant active sites as well as good microwave (MW)‐absorbing performance. The outstanding MW‐driven oxidation of norfloxacin to inorganic molecules and direct catalytic reduction of 4‐nitrophenol to less toxic and more useful chemical raw material (4‐aminophenol) can originate from the synergistic effects, including the presence of both zero‐valent Ni NPs as the active center and graphitic carbon as the protective layer/electron acceptor as well as unique porous yolk‐void‐shell structure, which facilitates the MW energy‐harvesting and/or rapid mass transfer of the reactant/product in the channels and cavities. Accordingly, the localized surface plasmon resonance–excitation and electronic relay mechanism are proposed to account for the catalytic oxidation/reduction, respectively. This work provides a new strategy for the design/assembly of multifunctional metal@GC hybrids with a unique architecture and elucidates new opportunities for remediation of environmental water.