Silicone hydrogels are pivotal materials used in contact lenses, biomedicine, and electronic devices, where oxygen permeability and equilibrium water content (EWC) are essential attributes. Generally, an increase in silicone content boosts oxygen permeability but diminishes EWC, presenting a notable trade‐off challenge. In this study, a solvent incorporation method that significantly elevates oxygen permeability without markedly affecting EWC is introduced. Among various solvents, isopropanol incorporation notably enhances oxygen permeability (101 barrer) while maintaining an EWC of 56.0%. This improvement is attributed to enhanced connectivity within the silicone network. Additionally, it is discovered that incorporating siloxane nanoparticles (SNPs) further increases the connectivity of the silicone network, offering a more pronounced improvement in oxygen permeability than solvent alone. However, excessive SNP addition can lead to large phase separation, resulting in decreased transmittance, lower EWC, and increased mechanical strength. Optimizing a transmittance of over 99%, SNP addition achieves a silicone hydrogel with an oxygen permeability of 125 barrer and an EWC of 49.5%, surpassing many advancements reported in the literature.