In severe COVID‐19 patients with T2DM, we demonstrate a higher risk of all‐cause fatality with glucocorticoid treatment (Adjusted HR, 3.61; 95%CI, 1.14‐11.46; P = 0.029), and severe hyperglycemia (FPG ≥11.1 mmol/L) (Adjusted HR, 11.86; 95%CI, 1.21‐116.44; P = 0.034).