We introduced a strategy to form nanocrystalline CsPbBr3 perovskite films with high luminescence and stability, inhibiting crystal growth using a CsBr supersaturated antisolvent during the antisolvent-assisted crystallization process. We devised this strategy because the supersaturated antisolvent has a higher CsBr concentration over its solubility limit in the saturated antisolvent and consequently will form the smaller perovskite nanocrystalline grains due to the quick precipitation of the CsBr. Here, the CsBr is chosen as a model inorganic antisolvent additive for a crystal growth inhibitor and a passivator. Consequently, we have achieved a nanocrystalline CsPbBr3 film with an average grain size of ∼39 nm by the CsBr supersaturated antisolvent-assisted crystallization process, which is about 41% smaller than the average grain size of the control sample. Hence, the perovskite thin film exhibited a much higher photoluminescence quantum yield than the control film. The maximum current efficiency (CEmax) and the maximum external quantum efficiency (EQEmax) of the corresponding CsPbBr3 perovskite light-emitting diodes (PeLEDs) were approximately twice higher (CEmax of 94.64 cd A-1 and EQEmax of 22.93%) than those of the control device. Simultaneously, the inclusion of CsBr additives played a multifunctional role in diminishing the leakage current of PeLEDs and enhancing their operational lifetime.