Charge extraction at the active layer‐electrode interfaces is critical in obtaining highly efficient planar perovskite solar cells (PSCs). It is commonly achieved by enhancing the charge carrier mobility of the charge transfer layer (CTL) that possesses a desirable energy level. Nevertheless, the in‐plane movement of charge carriers in the CTL possibly leads to severe charge recombination in the presence of defects at the interfaces. To verify this overlooked possibility, herein, an oxidized monolayer of poly(3,4‐ethylenedioxythiphene):poly(styrenesulfonate) (PEDOT:PSS) hole transfer layer (HTL) is constructed by water rinsing followed by H2O2 oxidation. The oxidized PEDOT:PSS monolayer ensures a high charge transfer ability from perovskite to electrode, but at the same time limits in‐plane charge transport. An inverted planar PSC fabricated on the oxidized PEDOT:PSS monolayer yields a power conversion efficiency (PCE) of 18.8%, higher than 17.0% of the control device based on a pristine PEDOT:PSS monolayer. The main contribution comes from the fill factor (FF), which is as high as 82%. Characterizations indicate that the conjugation length of PEDOT chains is decreased after H2O2 oxidation, which lowers the conductivity of PEDOT:PSS HTL in the in‐plane direction. This study suggests that the charge recombination at the electrode interfaces due to in‐plane charge transport in the CTLs is not to be neglected.