Here, the authors performed density functional theory calculations to study the catalytic performance of the nitric oxide reduction reaction (NORR) via a series of transition metal borides (MBenes). This work screened the M2B2 type MBenes from the IVB to V transition metals from the periodic table and systematically probed the catalytic activity and selectivity for the NORR process. It has been reported that Fe2B2, Mn2B2, and Rh2B2 can be high‐performance catalysts for converting NO to NH3 with smaller limiting potentials than other MBenes, and Nb2B2 and Hf2B2 have low limiting potentials of −0.11 V and −0.17 V for the NO production of NH3. The binding energy of ΔG*N can be a good descriptor of catalytic performance and is determined by the volcano plot of the rate‐determining step. The reaction mechanisms for NO reduction to NH3, N2, and N2O have been studied in detail, atomic *N can interact with another *N or one *NO molecule to form N2 and N2O via two successive hydrogenations. In this regard, *NO hydrogenation to *NOH has a lower formation energy than *HNO, and the MBenes have high selectivity for promoting the NORR and suppressing the hydrogen evolution reaction competition process.