The timing and geographic extent of a potential “4.2 ky event” remain highly contested. Here we present records of ENSO variability at 3.8 kyBP and 4.1 kyBP derived from a Borneo stalagmite, which suggest a significant change in ENSO properties between these time intervals. The Borneo records show evidence of significantly reduced ENSO activity at 4.1 kyBP, relative to other measured windows within the Holocene. This reduced ENSO activity coincides with a period of drier conditions and enhanced dust events in the Middle East that took place ∼4.0–4.3 kyBP. The Borneo records show evidence of enhanced ENSO activity at 3.8 kyBP. Various hydroclimate changes attributed to the “4.2 ky event” in many regions may thus be reflecting a shift from reduced to enhanced El Niño activity that occurred between 3.8 kyBP to 4.0 kyBP. Plain Language Summary Research suggests that a significant climate shift may have occurred around 4,000 years ago, though the exact timing and global extent of the event remain uncertain. A change in the frequency or magnitude of the El Niño‐Southern Oscillation (ENSO) is one hypothesized cause, however there are currently few high‐resolution records which resolve ENSO variability 4,000 years ago. We present a new western tropical Pacific stalagmite‐based record of ENSO activity, which shows a significant minimum in ENSO variability around 4,100 years ago. This reduced ENSO activity coincides with a centennial‐scale climate event in the Middle East characterized by drier conditions and enhanced dust events. The Borneo record also shows a significant increase in El Niño/La Niña activity that took place by 3,800 years ago. Hydroclimate changes around 4,000 years ago found in records from multiple regions around the world may therefore reflect a shift from reduced to enhanced El Niño activity. Key Points Borneo stalagmite record shows anomalously low El Niño‐Southern Oscillation variability in a 135‐year‐long window, centered at 4.1 kyBP Borneo stalagmite record suggests an abrupt shift from low to high El Niño‐Southern Oscillation variability between 3.8 and 4.0 kyBP Records of tropical hydroclimate change ∼4,000 years ago may reflect a significant increase in El Niño variability