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The use of water as an oxygen and hydrogen source for the paired oxygenation and hydrogenation of organic substrates to produce valuable chemicals is of utmost importance as a means of establishing green chemical syntheses. Inspired by the active Ni³⁺ intermediates involved in electrocatalytic water oxidation by nickel‐based materials, we prepared NiB _x as a catalyst and used water as the oxygen source for the oxygenation of various organic compounds. NiB _x was further employed as both an anode and a cathode in a paired electrosynthesis cell for the respective oxygenation and hydrogenation of organic compounds, with water as both the oxygen and hydrogen source. Conversion efficiency and selectivity of ≥99 % were observed during the oxygenation of 5‐hydroxymethylfurfural to 2,5‐furandicarboxylic acid and the simultaneous hydrogenation of p‐nitrophenol to p‐aminophenol. This paired …