The study and development of high thermoelectric properties is crucial for the next generation of microelectronic and wearable electronics. Derived from the recent experimental realization of layers of transition metal molybdenum and boride, we report the theoretical realization of advanced thermoelectric properties in two-dimensional (2D) transition metal boride Mo1-xB2 (x = 0, 0.05, 0.10, 0.125, 0.15)-based defect sheets. The introduction of metal vacancies results in stronger d-p exchange interactions and hybridization between the Mo-d and B-p atoms. Meanwhile, the ordered metal vacancies enabled transition metal borides (n-type Mo0.9B2) to widen the d-bandwidth and raise the d-band center, leading to a relatively high carrier mobility of 3262 cm2 V-1 s-1 and conductivity twice that of a bug-free n-type MoB2 layer, which indicates that it presents good electronic and thermal transport properties. Furthermore, investigations of the thermoelectric performance exhibit a maximum ZT of up to 3.29, which is superior to those of currently reported 2D materials. Modulation by defect engineering suggests that 2D transition metal boride sheets with ordered metal vacancies have promising applications in microelectronics, wearable electronics and thermoelectric devices.