In this study, an oxidation treatment technique suitable for the material and electronic device applications proceeding at low temperature (only 80 °C) and high pressure (3000 psi) utilizing a carbon dioxide (CO2) supercritical fluid (SCF), also known as scCO2, which is supplemented with water molecules, is reported. To demonstrate the possible effects on material and devices for the proposed SCF treatment, an amorphous germanium–sulfur (GeS) thin film and a GeS‐based resistance random access memory (RRAM) device are prepared. After the SCF treatment, electrical measurements confirm that the GeS‐based RRAM device exhibits a lower forming voltage, more stable resistance switching characteristics, and higher concentration distributions of high and low resistance states when compared to the device without SCF treatment. As for the material effects, both chemical and physical properties are examined based on material analyses results. It is concluded that the original amorphous GeS thin film transforms to a polycrystallized GeO film, confirmed by a reaction model for the SCF treatment illustrating possible oxidation and crystallization effects induced by this SCF treatment. This water‐enhanced scCO2 SCF treatment technique, thus, shows its capability as a feasible synthetic method for material modification as well as suitability for device level applications.