Enhancement‐mode ultrawide‐bandgap Al0.65Ga0.35N/Al0.4Ga0.6N metal–insulator–semiconductor heterojunction field‐effect transistors are demonstrated using fluorine‐plasma treatment for threshold voltage control and Al2O3 as gate dielectric. The device exhibits a threshold voltage of 5 V, a maximum drain current density of 105 mA mm−1, and a transconductance of 19 mS mm−1. In addition, the capability to achieve low off‐state current density at 3–4 × 10−9 mA mm−1, an exceptionally low gate leakage current density of 1.4 × 10−8 mA mm−1 even at a high forward gate bias of VGS = 12 V, and a current on/off ratio >1010 is shown. Small signal measurement shows that the device has a unity current gain cutoff frequency fT of 3.8 GHz and power gain cutoff frequency fmax of 4.5 GHz.