Oxygen (O2) and hydrogen (H2) plasma exposed graphene oxide (GO) sheets have been demonstrated as hole buffer layers in OLEDs. O2 plasma exposure induces assimilation of oxygen contents in GO lattice resulting in improved work function that reduced the hole injection barrier further. Whereas, H2 plasma contrastingly reduced the GO by excluding oxygen which ensuing lower work function. X-ray photoelectron spectroscopy and ultraviolet photoelectron spectroscopy investigations reveal the capricious amount of oxygen in GO lattice and its corresponding work function variations. GO and O2 plasma treated GO significantly improves the current efficiency of OLEDs more than one order with notable reduction in turn on voltage.