The catalytic hydrogenation of CO₂ to light olefins offers a promising route for converting greenhouse gases into value-added chemicals. In this work, a series of carbon nanosphere (CNS)-encapsulated Fe–Co core–shell catalysts with varying Fe/Co molar ratios were synthesized via resorcinol–formaldehyde polymerization followed by carbonization. The catalysts were evaluated for CO₂hydrogenation in a continuous-flow-bed quartz reactor under atmospheric pressure. Among the compositions investigated, the bimetallic CNS–Fe₁Co₂catalyst exhibited the best catalytic performance, showing higher CO₂conversion and improved selectivity toward C₂–C₄olefins compared with the monometallic CNS–Fe and CNS–Co catalysts. Structural characterization demonstrates that Fe–Co nanoparticles are uniformly confined within graphitic carbon nanospheres, forming a stable core–shell architecture. Under reaction conditions, the metal species undergo reduction and carburization to form iron carbide phases associated with C–C coupling and hydrocarbon chain growth. The presence of cobalt facilitates hydrogen activation and modifies the electronic environment of Fe, while the graphitic carbon shell suppresses nanoparticle sintering and maintains structural stability. These results highlight the synergistic roles of bimetallic interaction and carbon confinement in tuning catalytic behavior for CO₂hydrogenation.