The metal oxides/graphene composites are one of the most promising supercapacitors (SCs) electrode materials. However, rational synthesis of such electrode materials with controllable conductivity and electrochemical activity is the topical challenge for high‐performance SCs. Here, the Co3O4/graphene composite is taken as a typical example and develops a novel/universal one‐step laser irradiation method that overcomes all these challenges and obtains the oxygen‐vacancy abundant ultrafine Co3O4 nanoparticles/graphene (UCNG) composites with high SCs performance. First‐principles calculations show that the surface oxygen vacancies can facilitate the electrochemical charge transfer by creating midgap electronic states. The specific capacitance of the UCNG electrode reaches 978.1 F g−1 (135.8 mA h g−1) at the current densities of 1 A g−1 and retains a high capacitance retention of 916.5 F g−1 (127.3 mA h g−1) even at current density up to 10 A g−1, showing remarkable rate capability (more than 93.7% capacitance retention). Additionally, 99.3% of the initial capacitance is maintained after consecutive 20 000 cycles, demonstrating enhanced cycling stability. Moreover, this proposed laser‐assisted growth strategy is demonstrated to be universal for other metal oxide/graphene composites with tuned electrical conductivity and electrochemical activity.