AbstractStability issues could prevent lead halide perovskite solar cells (PSCs) from commercialization despite it having a comparable power conversion efficiency (PCE) to silicon solar cells. Overcoming drawbacks affecting their long‐term stability is gaining incremental importance. Excess lead iodide (PbI₂) causes perovskite degradation, although it aids in crystal growth and defect passivation. Herein, we synthesized functionalized oxo‐graphene nanosheets (Dec‐oxoG NSs) to effectively manage the excess PbI₂. Dec‐oxoG NSs provide anchoring sites to bind the excess PbI₂ and passivate perovskite grain boundaries, thereby reducing charge recombination loss and significantly boosting the extraction of free electrons. The inclusion of Dec‐oxoG NSs leads to a PCE of 23.7 % in inverted (p‐i‐n) PSCs. The devices retain 93.8 % of their initial efficiency after 1,000 hours of tracking at maximum power points under continuous one‐sun illumination and exhibit high stability under thermal and ambient conditions.