We demonstrate that N-2 and O-2 plasma treatment followed by rapid thermal annealing leads to surface stoichiometry modification in a AlGaN/GaN high electron mobility transistor. Both the source/drain access and gate regions respond positively improving the transistor characteristics albeit to different extents. Characterizations indicate that the surface show the characteristics of that of a higher band-gap material like AlxOy and GaxOy along with N-vacancy in the sub-surface region. The N-vacancy leads to an increased two-dimensional electron gas density. The formation of oxides lead to a reduced gate leakage current and surface passivation. The DC characteristics show increased transconductance, saturation drain current, ON/OFF current ratio, sub-threshold swing and lower ON resistance by a factor of 2.9, 2.0, 10(3.3), 2.3, and 2.1, respectively. The RF characteristics show an increase in unity current gain frequency by a factor of 1.7 for a 500 nm channel length device.