The connection between the active components and supports in a catalyst is important for the high activity and long‐term stability during catalysis. Here, Co3O4 nanoparticles embedded in F, N‐doped graphene (Co3O4/F, N‐doped G) are synthesized by silicon‐hydrogen bond reduction. F and N atoms doped graphene interacts with Co3O4 nanoparticles to optimize oxygen reduction reaction (ORR) catalytic activity. The optimal Co3O4/F, N‐doped G‐2 catalyst with Co loading of 3.38 wt% shows a half‐wave potential of 0.852 V vs RHE in 0.1 M KOH solution. Furthermore, Co3O4/F, N‐doped G‐2 catalyst outputs an extremely high open circuit voltage of 1.47 V and an excellent power density of 280 mW cm−2 at current density of 450 mA cm−2 when applied to the primary Zn‐air batteries. Due to the synergetic effects from Co3O4 and supports (F, N‐doped G), Co3O4/F, N‐doped G‐2 catalyst also shows excellent stability and anti‐toxicity, and has good practical application prospects.