In coordination chemistry, catalytically active metal complexes in a zero‐ or low‐valent state often adopt four‐coordinate square‐planar or tetrahedral geometry. By applying this principle, we have developed a stable Pt1 single‐atom catalyst with a high Pt loading (close to 1 wt %) on phosphomolybdic acid(PMA)‐modified active carbon. This was achieved by anchoring Pt on the four‐fold hollow sites on PMA. Each Pt atom is stabilized by four oxygen atoms in a distorted square‐planar geometry, with Pt slightly protruding from the oxygen planar surface. Pt is positively charged, absorbs hydrogen easily, and exhibits excellent performance in the hydrogenation of nitrobenzene and cyclohexanone. It is likely that the system described here can be extended to a number of stable SACs with superior catalytic activities. An atomically dispersed Pt1 catalyst has been developed with a high catalyst loading where each Pt atom is anchored on supported phosphomolybdic acid with distorted square‐planar coordination geometry. The catalyst is highly active for nitrobenzene and cyclohexanone hydrogenation.