AbstractThe benchmarking of the performance for H₂evolution of cobalt diimine‐dioxime catalysts is provided based on a comprehensive study of their catalytic mechanism. The latter follows an ECE'CC pathway with intermediate formation of a Co(II)‐hydride intermediate and second protonation possibly at a basic site of the ligand, acting as a proton relay. This suggests an intramolecular coupling between the hydride and protonated ligand as the proton concentration‐independent rate‐determining step controlling the turnover frequency for H₂evolution.