A new piezoelectric material, Pb(Zr,Ti)O3–Pb(Fe2/3W1/3)O3–Pb(Mn1/3Nb2/3)O3 (PZT–PFW–PMN) ceramics, was prepared by conventional mixed-oxide method. Effects of Pb(Fe2/3W1/3)O3 (PFW) content on phase structure, microstructure, dielectric and piezoelectric properties of PZT–PFW–PMN ceramics were studied. It indicates that substitution of Pb(Fe2/3W1/3)O3 is effective on forming the solid solution and inhibiting the formation of pyrochlore phase. The proper addition of Pb(Fe2/3W1/3)O3 can promote the grain growth of the ceramics and make the ceramics have a high density. The dielectric and piezoelectric properties are also enhanced by adding Pb(Fe2/3W1/3)O3 into PZT–PMN. The 0.90PZT–0.03PFW–0.07PMN ceramics exhibit optimized properties. The dielectric and piezoelectric properties of this composition are as follows: d33=358 pC/N, Kp=0.63, Qm=1655, tanδ=0.0053, ɛr=1745 and Tc=273 °C, which show that this system is a new promising material for high power piezoelectric transformers application.