The synthesis of metal‐free electrocatalysts for oxygen reduction reaction (ORR) in fuel cells has attracted remarkable attention. We report the synthesis of B, N, and BN co‐doped carbon materials by the hydrothermal method. The effect of surface oxygen on graphene oxide over the amount of N and B doping was investigated. Two types of carbon were evaluated: 1) commercial graphene oxide (GO comm ) and 2) GO chemically modified. GO exhibited higher surface oxygen (27.16%) and structural defects (I D /I G = 0.97) after chemical modification, which favors the amount of heteroatom doping. The N‐doped carbon (N‐GO and N‐GO comm ) showed a higher onset potential (E onset ) than B‐doped carbon samples (B‐GO and B‐GO comm ), which can be associated with the higher amount of N‐doping, N electronegativity, and N‐species obtained. The BN co‐doped GO showed a synergetic effect, increasing the limited and kinetic current density, and the number of electrons transferred closer to four ( n = 3.9 e‐). The presence of both N (pyridinic/quaternary) and B (BC 3 ) heteroatoms increased the activity of B‐N‐GO for the ORR, showing a higher current density in both kinetic and mass transfer regions. This work provides new alternatives of an attractive electrocatalyst (B‐N‐GO) for ORR application.