Electrocatalytic two‐electron oxygen reduction (2e− ORR) to hydrogen peroxide (H2O2) is attracting broad interest in diversified areas including paper manufacturing, wastewater treatment, production of liquid fuels, and public sanitation. Current efforts focus on researching low‐cost, large‐scale, and sustainable electrocatalysts with high activity and selectivity. Here a large‐scale H2O2 electrocatalysts based on metal‐free carbon fibers with a fluorine and sulfur dual‐doping strategy is engineered. Optimized samples yield with a high onset potential of 0.814 V versus reversible hydrogen electrode (RHE), an almost ideal 2e− pathway selectivity of 99.1%, outperforming most of the recently reported carbon‐based or metal‐based electrocatalysts. First principle theoretical computations and experiments demonstrate that the intermolecular charge transfer coupled with electron spin redistribution from fluorine and sulfur dual‐doping is the crucial factor contributing to the enhanced performances in 2e− ORR. This work opens the door to the design and implementation of scalable, earth‐abundant, highly selective electrocatalysts for H2O2 production and other catalytic fields of industrial interest.