Constructing amorphous/intermetallic (A/IMC) heterophase structures by breaking the highly ordered IMC phase with disordered amorphous phase is an effective way to improve the electrocatalytic performance of noble metal‐based IMC electrocatalysts because of the optimized electronic structure and abundant heterophase boundaries as active sites. In this study, we report the synthesis of ultrathin A/IMC PtPbBi nanosheets (NSs) for boosting hydrogen evolution reaction (HER) and alcohol oxidation reactions. The resulting A/IMC PtPbBi NSs exhibit a remarkably low overpotential of only 25 mV at 10 mA cm−2 for the HER in an acidic electrolyte, together with outstanding stability for 100 h. In addition, the PtPbBi NSs show high mass activities for methanol oxidation reaction (MOR) and ethanol oxidation reaction (EOR), which are 13.2 and 14.5 times higher than those of commercial Pt/C, respectively. Density functional theory calculations demonstrate that the synergistic effect of amorphous/intermetallic components and multimetallic composition facilitate the electron transfer from the catalyst to key intermediates, thus improving the catalytic activity of MOR. This work establishes a novel pathway for the synthesis of heterophase two‐dimensional nanomaterials with high electrocatalytic performance across a wide range of electrochemical applications. Ultrathin amorphous/intermetallic heterophase PtPbBi NSs were synthesized for the first time, which exhibited excellent electrocatalytic performance in HER and AORs owing to their unique heterointerfaces and abundant exposed active sites. Construction of amorphous/crystalline heterophase structures with multimetallic composition can effectively optimize the Gibbs free energy and enhance the electron transfer from the surface of the catalyst to *CH2OH.