The realization of an ultra‐fast source of heralded single photons emitted at the wavelength of 1540 nm is reported. The presented strategy is based on state‐of‐the‐art telecom technology, combined with off‐the‐shelf fiber components and waveguide non‐linear stages pumped by a 10 GHz repetition rate laser. The single photons are heralded at a rate as high as 2.1 MHz with a heralding efficiency of 42%. Single‐photon character of the source is inferred by measuring the second‐order autocorrelation function. For the highest heralding rate, a value as low as 0.023 is found. This not only proves negligible multi‐photon contributions but also represents one of the best measured values reported to date for heralding rates in the MHz regime. These performances, associated with a device‐like configuration, are key ingredients for both fast and secure quantum communication protocols.