Variable stars in stellar clusters can offer key constraints on stellar evolution and pulsation models, utilizing estimates of host cluster properties to constrain stellar physical parameters. We present a catalog of 86 luminous (F814W < 19) variable stars in M31 clusters identified by mining the archival Panchromatic Hubble Andromeda Treasury (PHAT) survey using a combination of statistical analysis of sparse PHAT light curves and difference imaging. We determine the evolutionary phases and initial masses of these variable stars by matching them with theoretical isochrones generated using host cluster properties from the literature. We calculate the probability of PHAT photometry being blended due to the highly crowded nature of cluster environments for each cluster-variable star, using these probabilities to inform our level of confidence in the derived properties of each star. Our 86 cluster-variable stars have initial masses between 0.8 and 67 M ⊙. Their evolutionary phases span the main sequence, more evolved hydrogen- and helium-burning phases, and the post–asymptotic giant branch. We identify numerous candidate variable star types: RV Tauri variables, red supergiants, and slowly pulsating B-type supergiants, along with Wolf–Rayet stars, α Cygni and Mira variables, a classical Cepheid, and a possible superasymptotic giant. We characterize 12 cluster-variable stars at higher confidence based on their difference image quality and lower blending probability. Ours is the first systematic study of variable stars in extragalactic stellar clusters leveraging the superior resolution of the Hubble Space Telescope and demonstrating the unique power of stellar clusters in constraining the fundamental properties of variable stars.