Abstract The design of highly active, stable, and low‐cost electrocatalysts for the oxygen evolution reaction (OER) in proton exchange membrane water electrolyzer remains a challenge. RuO 2 shows relatively low cost but poor stability. Here, the critical role of sulfate anion doping in promoting OER activity and stability of RuO 2 is reported. Coupled with the Fe cation doping, the sulfate‐functionalized RuFeO x (S‐RuFeO x ) displays a remarkable OER performance with a low overpotential of 187 mV at 10 mA cm −2 in acid, and much enhanced stability. The excellent OER activity of S‐RuFeO x is attributed to the dual positive effects that the sulfate dopants weaken the adsorption of the *OOH intermediate, and Fe dopants promote the deprotonation of chemisorbed water molecules to form *OOH. The enhanced stability is in part due to the sulfate dopants which stabilize the lattice oxygen. These results demonstrate that the anion and cation co‐doped RuO 2 is a promising candidate for highly efficient OER electrocatalysts.