Abstract An “off‐the‐shelf” hydrogel with high‐efficiency shape memory property is designed on the basis of the dynamic borax‐diol chemistry. The system is facilely prepared from only several unmodified commercially available components: acrylamide (AAm), bis‐acrylamide (Bis), poly(vinyl alcohol) (PVA), and borax. The chemically crosslinked poly(acrylamide) network works to fix the permanent shapes of the hydrogel, while the dynamic PVA–borax boronate ester bonds serve as the reversible crosslinks to memorize the deformed temporary shapes. Retreatment of the hydrogel in acid/glucose solutions dissipates the PVA–borax ester bonds to recover its permanent shape. Because of the highly invertible nature of borax‐diol chemistry, the developed hydrogel system is characterized by high shape memory/recovery ratios, continuously adjusted shape memory/recovery rates, thus having a wealth of potential applications.