The paper presents the results of a study of electron‐beam modification (EBM) of VO2‐switch I–V curve threshold parameters and the self‐oscillation frequency of a circuit containing such a switching device. EBM in vacuum is reversible and the parameters are restored when exposed to air at pressure of 150 Pa. At EBM with a dose of 3 C cm−2, the voltages of switching‐on (Vth) and off (Vh), as well as the OFF‐state resistance Roff, decrease down to 50% of the initial values, and the oscillation frequency increases by 30% at a dose of 0.7 C cm−2. Features of physics of EBM of an oscillator are outlined considering the contribution of the metal and semiconductor phases of the switching channel. Controlled modification allows EBM forming of switches with preset parameters. Also, it might be used in artificial oscillatory neural networks for pattern recognition based on frequency shift keying.