Electronic state transitions, especially metal insulator transitions (MIT), offer physical properties that are useful in intriguing energy applications and smart devices. But to-date, very few simple metal oxides have been shown to undergo electronic state transitions near room temperature. Herein, we demonstrate experimentally that chemical induction of double-exchange in two-dimensional (2D) nanomaterials brings about a MIT near room temperature. In this case, valence-state regulation of a 2D MnO2 nanosheet induces a Mn(III)-O-Mn(IV) structure with the double-exchange effect, successfully triggering a near-room-temperature electronic transition with an ultrahigh negative magneto-resistance (MR). Double-exchange in 2D MnO2 nanomaterials exhibits an ultrahigh MR value of up to -11.3% (0.1 T) at 287 K, representing the highest reported negative MR values in 2D nanomaterials approaching room temperature. Also, the MnO, nanosheet displays an infrared response of 7.1% transmittance change on going from 270 to 290 K. We anticipate that dimensional confinement of double-exchange structure promises novel magneto-transport properties and sensitive responses for smart devices.