Using first-principles calculations, we explore the possibility of functionalized graphene as a high-performance two-dimensional spintronics device. Graphene functionalized with O on one side and H on the other side in the chair conformation is found to be a ferromagnetic metal with a spin-filter efficiency up to 54% at finite bias. The ground state of graphene semifunctionalized with F in the chair conformation is an antiferromagnetic semiconductor, and we construct a spin-valve device from it by introducing a magnetic field to stabilize its metallic ferromagnetic state. The resulting room-temperature magnetoresistance is up to 2200%, which is 1 order of magnitude larger than the available experimental values.