In this study, silver nanowires (Ag NWs) are synthesized at first, and then the 1D heterogeneous Co/C@Ag NWs with a kebab‐ and popsicle‐like microstructures are constructed by in situ growth ZIF‐67 on Ag NWs combined with calcination. Results show that the EM wave prevention performance of composites depends on the loading of Co/C particles threaded on the Ag NWs. The popsicle‐like structure with high Co/C loading gives Co/C@Ag NWs excellent EM wave absorption performance, which achieved a minimum reflection loss (RLmin) of −44.5 dB with a low filling of 30 wt.% in paraffin; while the kebab‐like structure with low Co/C loading shows good electromagnetic interference (EMI) shielding effectiveness (SET) of 30.2 dB at the same filler ratio. The enhanced EM wave absorption performance is attributed to the synergy of multiple energy dissipation mechanisms including dielectric loss, magnetic loss, polarization loss, eddy‐current loss, multiple reflection loss, as well as proper impedance matching; the good EMI shielding performance is mainly due to the conduction loss brought by the Ag NWs with ultrahigh conductivity. This work provides a reference for the design of electromagnetic wave prevention material with tuned absorption and shielding performance.