AbstractEfficient spontaneous molecular oxygen (O2) activation is expected in advanced oxidation processes. However, it remains a great challenge to promote the reactants adsorption and accelerate the interfacial electron transfer to boost the activation kinetic of O2. Herein, defect‐rich N‐doped reduced graphene oxide/CoFe2O4 (NGCF‐OV) membrane containing asymmetric Co‐OV‐Fe sites is prepared for O2 activation. The intrinsic catalytic activity is that the asymmetric Co‐OV‐Fe sites regulate the O─O bond length, promoting more and faster electron transfer to O2 for selectively producing 1O2. Meanwhile, the adjacent graphitic N sites help confine organics to the surface and thus greatly shorten the reaction distance of 1O2 and improve its utilization efficiency. The NGCF‐OV membrane demonstrates complete degradation of bisphenol A within a retention time of 86 ms, achieving a k‐value of 0.047 ms−1, which exceeds the performance of most Fenton‐like systems. This work provides new horizons for designing an efficient and stable catalytic membrane, enriching the domain of advanced wastewater treatment strategies.