Highly active and low‐cost anodic hydrogen oxidation reaction (HOR) catalysts play a significant role in the large‐scale application of anion exchange membrane fuel cells (AEMFCs). Herein, a novel anodic HOR electrocatalyst with RuP nanoparticles loaded on N, O codoped porous hollow carbon (RuP/NOC) is prepared. The catalyst exhibits high catalytic activity toward HOR, achieving a kinetic mass activity of 3.25 mA µg–1PGM at 50 mV, 13 times higher than that of Ru/NOC and even superior to that of Pt/C. Density functional theory (DFT) calculations demonstrate that the transfer of electrons from ruthenium to phosphorus shifts down the d‐band center of Ru, weakening the hydroxyl binding energy and decreasing the reaction energy barrier for HOR, thus enhancing the catalytic activity of Ru.