Cygnus OB2 provides a unique insight into the high-mass stellar content in one of the largest groups of young massive stars in our Galaxy. Although several studies of its massive population have been carried out over the last decades, an extensive spectroscopic study of the whole known O-star population in the association is still lacking. In this work, we created the most complete spectroscopic census of O stars carried out so far in Cygnus OB2 using already existing and new spectroscopy. We present the spectra for 78 O-type stars, from which we identify new binary systems, obtain the distribution of rotational velocities, and determine the main stellar parameters for all the stars in the region that have not been detected as double-line spectroscopic binaries. We also derive radii, luminosities, and masses for those stars with reliable Gaia astrometry, in addition to creating the Hertzsprung- Russell Diagram to interpret the evolutionary status of the association. This work has shown the improvement reached when using accurate spectroscopic parameters and astrometry for the interpretation of the evolutionary status of a population, revealing, in the case of Cygnus OB2, at least two star-forming bursts at ~3 and ~5Myr. We find an apparent deficit of very fast rotators in the distribution of rotational velocities. The inspection of the dynamical distribution of the sample has allowed us to identify nine O stars with peculiar proper motions and discuss a possible dynamical ejection scenario or past supernova explosions in the region.