Summary: A binaphthyl‐bridged salen dichlorozirconium (IV ) complex that displays an octahedral structure with a trans‐O, cis‐N, and cis‐Cl arrangement was synthesized and tested as a precatalyst for ethylene and α‐olefin polymerization. While use of methylaluminoxane (MAO) cocatalyst afforded poor catalytic activity, activation by mixtures of aluminium alkyls such as AliBu3 and either MAO or [CPh3][B(C6F5)4] resulted in reasonable polymerization activities for ethylene, propene, and higher α‐olefins. Quite unexpectedly, while the polymerization of propene results in the production of a high‐molecular‐weight stereoirregular polymer, highly isotactic polymers are obtained under similar conditions from polymerization of 1‐butene, 1‐pentene, and 1‐hexene.