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Prosocial behaviors are central to individual and societal well‐being. Although the relationship between effort and prosocial behavior is increasingly studied, the impact of effort‐based self‐interested motivation on prosocial behavior has received less attention. In the current study, we carried out two experiments to examine the effect of motivation to obtain a reward for oneself on donation behavior and brain response. We observed that individuals who accumulated more money in the effort‐expenditure rewards task (EEfRT) donated a lower proportion of their earnings. The sigmoid model fitted participants' choices in the EEfRT task, and the effort‐reward bias and sigma parameters negatively correlated with the amount of money donated in the donation task. Additionally, the effort‐reward bias and sigma parameters negatively predicted N2 amplitude during processing of charitable donation‐related information. We propose that individuals who exhibit a lower level of effort‐based self‐interest motivation may allocate more cognitive control or attentional resources when processing information related to charitable donations. Our work adds weight to understanding the relationship between effort‐based self‐interest motivation and prosocial behavior and provides electrophysiological evidence. The current study found that effort‐based self‐interest motivation can influence donation behavior. Furthermore, motivation can predict N2 in processing donation information. Lower motivation levels may lead to increased cognitive control or attentional resources allocation when processing charitable donation information. [ABSTRACT FROM AUTHOR]