Collaborative filtering (CF) aims to make recommendations for users by detecting user’s preference from the historical user–item interactions. Existing graph neural networks (GNN) based methods achieve satisfactory performance by exploiting the high-order connectivity between users and items, however they suffer from the poor training efficiency problem and easily introduce bias for information propagation. Moreover, the widely applied Bayesian personalized ranking (BPR) loss is insufficient to provide supervision signals for training due to the extremely sparse observed interactions. To deal with the above issues, we propose the Efficient Graph Collaborative Filtering (EGCF) method. Specifically, EGCF adopts merely one-layer graph convolution to model the collaborative signal for users and items from the first-order neighbors in the user–item interactions. Moreover, we introduce contrastive learning to enhance the representation learning of users and items by deriving the self-supervisions, which is jointly trained with the supervised learning. Extensive experiments are conducted on two benchmark datasets, i.e., Yelp2018 and Amazon-book, and the experimental results demonstrate that EGCF can achieve the state-of-the-art performance in terms of Recall and normalized discounted cumulative gain (NDCG), especially on ranking the target items at right positions. In addition, EGCF shows obvious advantages in the training efficiency compared with the competitive baselines, making it practicable for potential applications.