Phase boundary-domain engineering modulation with diverse group elements and coexistence of multiphase and composite domain structures is a good pathway that can be realized to simultaneously improve the piezoelectric properties of BF-BT ceramics and their thermal stability. Here, we propose a multicomponent optimization strategy. We innovatively introduce the 0.8(Bi0.5Na0.5)TiO3-0.2(Bi0.5K0.5)TiO3 (BNT-20BKT) component to 0.69BF-0.31BT ceramic, to build a morphotropic phase boundary (MPB) for enhancing d33. Meanwhile, Bi(Zn0.5Ti0.5)O3 with high Curie temperature and high tetragonal degree was introduced with the expectation of obtaining higher thermal stability along with high piezoelectric properties. The 0.69BiFeO3-0.31BaTiO3-0.005[0.8(Bi0.5Na0.5)TiO3-0.2(Bi0.5K0.5)TiO3]-xBi(Zn0.5Ti0.5)O3 (referred to as BF31BT-0.005(BNT-20BKT)-xBZT, 0.00 ≤ x ≤ 0.025) ceramics were successfully prepared. For the first time, an ultra-high piezoelectric performance of 749.6 pC/N was achieved at a real-time depolarization temperature (Tdr) of 395.6 °C, reflecting the real-time piezoelectric properties and ultra-high temperature stability of the ceramic at high temperatures. A two-phase coexisting structure of R and PC phases was produced in BF31BT-0.005(BNT-20BKT)-0.025BZT ceramic. TEM results showed the formation of nanodomains and a large number of polar nanoregions (PNRs). By adjusting the appropriate R/PC phase ratio, oxygen octahedral distortion, and optimizing the local domain engineering, an effective strategy is provided for simultaneously achieving ultra-high temperature stability and ultra-high piezoelectric response.