Lithium-rich cathode materials have garnered significant attention in the energy sector due to their high specific capacity. However, severe capacity degradation impedes their large-scale application. The employment of fast ion conductors for coating has shown potential in improving their electrochemical performance, yet the structural and chemical mechanisms underlying this improvement remain unclear. In this study, we systematically analyze, through first-principles calculations, the mechanism by which Li2O-B2O3-LiBr (Hereafter referred to as LBB) coating enhances the electrochemical performance of the lithium-rich layered cathode material 0.5Li2MnO3·0.5LiNi1/3Co1/3Mn1/3O2 (Hereafter referred to as OLO). Our calculations reveal that the LBB coating introduces a more negative valence charge (average −0.14 e) around the oxygen atoms surrounding transition metals, thereby strengthening metal-oxygen interactions. This interaction mitigates irreversible oxygen oxidation caused by anionic redox reactions under high voltages, reducing irreversible structural changes during battery operation. Furthermore, while the migration barrier for Li+ in OLO is 0.61 eV, the LBB coating acts as a rapid conduit during the Li+ deintercalation process, reducing the migration barrier to 0.32 eV and slightly lowering the internal migration barrier within OLO to 0.43 eV. Calculations of binding energies to electrolyte byproducts HF before and after coating (at −7.421 and −3.253 eV, respectively) demonstrate that the LBB coating effectively resists HF corrosion. Subsequent electrochemical performance studies corroborated these findings. The OLO cathode with a 2% LBB coating exhibited a discharge capacity of 157.12 mAh g−1 after 100 cycles, with a capacity retention rate of 80.38%, whereas the uncoated OLO displayed only 141.67 mAh g−1 and a 72.45% capacity retention. At a 2 C rate, with the 2 wt% LBB-coated sample maintaining a discharge capacity of 140.22 mAh g−1 compared to only 107.02 mAh g−1 for the uncoated OLO.