Rechargeable Li-O2 batteries have been considered as the most promising chemical power owing to their ultrahigh specific energy density. But the sluggish oxygen reduction reaction (ORR) and oxygen evolution reaction (OER) result in the high overpotential (~1.5V), the poor rate capability and even the short cycle life, which critically hinder their practical applications. Herein, we propose a synergistic strategy to boost the electrocatalytic activity of Co3O4 nanosheets for Li-O2 battery by tuning the inner oxygen vacancies and the exterior Co 3+ /Co 2+ ratio which have been identified by Raman spectroscopy, X-ray photoelectron spectroscopy and X-ray Absorption Near Edge Structure spectroscopy. Operando X-ray diffraction and ex-situ Scanning Electron Microscope are used to probe the evolution of the discharge product. In comparison with bulk Co3O4, the cells catalyzed by Co3O4 nanosheets show a much higher initial capacity (~24051.2mAh g -1 ), better rate capability (8683.3mAh g -1 @400mA g -1 ) and cycling stability (150 cycles@400mA g -1 ), and lower overpotential. The large enhancement of the electrochemical performances can be greatly attributed to the synergistic effect of the architectured 2D nanosheets, the oxygen vacancies and Co 3+ /Co 2+ difference between the surface and the interior.Moreover, the addition of LiI in the electrolyte can further reduce the overpotential making the battery more practical. This study offers some insights into designing high performance electrocatalysts for Li-O2 batteries through the combination of the 2D nanosheets architecture, oxygen vacancy and surface electronic structure regulation.