AbstractPhoton‐counting detector‐based computed tomography (PCD‐CT) is an advanced realization of spectral CT, the multi‐energy projection data is captured from the same object, hence, CT images can provide additional spectral resolution, making it possible to perform material decomposition. However, multiple projections may have a low signal‐to‐noise ratio (SNR), such that CT images suffer from noise. To handle this problem, a spectral CT image reconstruction method based on anisotropic sparse transformation (AST) is proposed. To increase the quality of reconstruction, AST through an anisotropic guided filter (AGF) and quasi norm is proposed. Then, as a new regularization, AST is introduced into an iterative reconstruction process, generating an AST‐based method. Moreover, to utilize the correlation among projection data, the average image serves as the guidance image of AGF, it varies with the iterative index, resulting in a technique of dynamic average image (DAI). The AST‐based model involves quasi norm minimization, hence an effective strategy is employed to solve the corresponding problem. A series of experiments were performed. The experiment showed that, compared to other listed methods, the result of the AST‐based method can achieve better visualization and higher quantitative indexes, hence it has application potential in the medical imaging field.