Based on the results of first‐principles calculations of the electronic properties of blue light‐emitting materials, the molecular structures of oligofluorenes are optimized by incorporating electron‐withdrawing groups into the molecules to balance hole and electron injection and transport for organic light‐emitting diodes (OLEDs). The result is a remarkable improvement in the maximum external quantum efficiency (EQE) of the undoped device from 2.0% to 4.99%. Further optimization of the device configurations and processing procedures, e.g., by changing the thickness of the emitting layer and through thermal annealing treatments, leads to a very high maximum EQE of 7.40% for the undoped sky‐blue device. Finally, by doping the emitter in a suitable host material, 4,4’‐bis(carbazol‐9‐yl)biphenyl (CBP), at the optimal concentration of 6%, pure blue emission with extremely high maximum EQE of 9.40% and Commission Internationale de l’Eclairage (CIE) coordinates of (0.147, 0.139) is achieved.