Abstract Herein, we reported an ultrapure blue multiple‐resonance‐induced thermally activated delayed fluorescence (MR‐TADF) material ( ν‐DABNA‐O‐Me ) with a high photoluminescence quantum yield and a large rate constant for reverse intersystem crossing. Because of restricted π‐conjugation of the HOMO rather than the LUMO induced by oxygen atom incorporation, ν‐DABNA‐O‐Me shows a hypsochromic shift compared to the parent MR‐TADF material ( ν‐DABNA ). An organic light‐emitting diode based on this material exhibits an emission at 465 nm, with a small full‐width at half‐maximum of 23 nm and Commission Internationale de l'Eclairage coordinates of (0.13, 0.10), and a high maximum external quantum efficiency of 29.5 %. Moreover, ν‐DABNA‐O‐Me facilitates a drastically improved efficiency roll‐off and a device lifetime compared to ν‐DABNA , which demonstrates significant potential of the oxygen atom incorporation strategy.