Based on the 3-(pyrazin-2-yl)-1 H-pyrazole-5-carboxylic acid (H₂L) ligand, two novel cobalt(II)-based coordination polymers, {[Co(L)(H₂O)]·H₂O}ₙ (CP1) and [Co₃(L)₂(H₂O)₄Cl₂]ₙ (CP2), were successfully synthesized via solvothermal methods. Single-crystal X-ray diffraction analysis revealed that CP1 features a two-dimensional layered structure extending into a three-dimensional supramolecular framework via interlayer hydrogen bonding, while CP2 adopts a one-dimensional chain motif that further assembles into a 3D network through hydrogen-bonding interactions. Fluorescence sensing studies demonstrated that CP1 exhibits excellent selectivity and sensitivity toward Fe³⁺ ions, with a Stern–Volmer constant (KSV) of 4.23 × 10⁴ M⁻¹ and a good linear response (R² = 0.9924), along with strong anti-interference ability and fluorescence reversibility. In contrast, CP2 functions as a highly effective fluorescent probe for tetracycline (TC), showing a notable quenching response and a KSV of 2.27 × 10⁴ M⁻¹ (R² = 0.9983), with minimal cross-reactivity to other antibiotics. Both materials exhibited excellent reusability across multiple sensing cycles, highlighting their potential as robust luminescent sensors for environmental and pharmaceutical residue detection.