AbstractHighly transparent inorganic photochromic materials have several promising applications, especially for anti‐counterfeiting application. Enriching and enhancing the luminescent properties of perovskite by doping transition metals and rare earth elements into the host is a feasible and attractive route. Codoping of Mn2+ and Er3+ can realize novel anti‐counterfeiting properties with upconversion emission and photochromic ability within a double perovskite structure of Cs2AgInCl6.The Cs2AgInCl6: Mn2+, Er3+ single crystal can be observed in a reversible color variation from yellow to dark violet by implementing under 365, 520 nm illumination or thermal treatment. In addition, the crystal emits red and green light under the excitation of 365 nm ultraviolet and 980 nm laser, respectively. The introduction of Mn2+ endowed Cs2AgInCl6 with photochromic ability, and Mn2+ acted as a bridge for energy transfer from host excitons to Er3+, facilitating emission in the visible region. Er3+ achieve upconversion luminescence in the material through its abundant energy levels and acting synergistically with Mn2+. Herein, the Cs2AgInCl6:Mn2+, Er3+ combines various optical properties and has applications for specific anti‐counterfeiting demands.