Oxo‐graphene nanoribbons (oxo‐GNRs) can be prepared by the oxidative unzipping of single‐walled carbon nanotubes. We present an orthogonal functionalization method for the functionalization of the rims and the π‐surface, respectively, what is only possible due to the high rim portion in oxo‐GNRs. Thus, in particular X‐ray photoelectron spectroscopy could be used to trace reaction to detect marker atoms included in addends. We propose that the reported orthogonal functionalization strategy can also be applied on other oxo‐functionalized carbon materials, such as carbon dots, or reduced graphene oxide flakes.