Abstract We report a high-pressure oxygen annealing (HPOA) process to improve the performance of TiN/Hf 0.5 Zr 0.5 O 2 (HZO)/TiN devices by controlling the number of oxygen vacancies and carbon contaminants. The ferroelectric properties of HZO film after HPOA at 250 °C for 30 min under different oxygen pressures from 0 to 80 bar were evaluated by electrical and structural characterizations. We found that a sample treated with an oxygen pressure at 40 bar exhibited large switchable polarization (2P r ) of approximately 38 and 47 μ C cm −2 in its pristine and wake-up states, respectively. Compared to a control sample, an approximately 40% reduction in the wake-up effect was achieved after HPOA at 40 bar. Improved ferroelectric properties of HZO film can be explained by the appropriate amount of oxygen vacancies and reduced carbon contaminants after HPOA.