Herein, we report the synthesis of a 3D hierarchical heterostructure microsphere through a facile solvothermal and hydrothermal method followed by an annealing treatment. The obtained ternary core‐shell nanostructured was comprehensively characterized by means of variety techniques including FT‐IR, XRD, BET, TEM, FE‐SEM, EDX, EDX‐mapping, VSM and ICP‐OES. It was found that this hierarchical nanostructured could promote the C−P cross coupling reaction of a large library of functional substrates. Benefiting from the unique hierarchical architecture and the synergistic effect among multiple components resulted from the coexistence of micro‐, meso‐ and macropores as well as its small nano‐crystallite size (20‐71 nm), this novel catalyst revealed superior catalytic performance in the C−P cross coupling reaction. More importantly, the ferromagnetic behavior of 3D hierarchical core‐shell Fe3O4@NiO/Co3O4 microspheres is responsible for easy separation from the reaction mixture using an external magnetic field and its long term‐durability under reaction conditions even after nine consecutive recycle runs.