AbstractLead‐based perovskite nanocrystals (NCs) as one of the most promising materials in the fields of display and lighting, have outstanding optical performance and simple solution preparation process. However, the toxicity of lead and poor stability limit their commercialization. Meanwhile, as a key component of display and lighting, white light‐emitting diodes (WLEDs) still faces challenges such as low luminance and complex preparation process. A method is proposed for preparing nontoxic and stable Cs3Cu2I5 NCs by doping Mg2+ ions, achieved broadband blue light emission with a high PLQY of 96.2% and excellent thermal cycling stability and air stability. Then, the Mg2+ ions doped Cs3Cu2I5 NCs are used as emissive layer, while the 1,3,5‐Tri (m‐pyridine‐3‐ylphenyl) benzene (TmPyPb) is selected as electron transport layer to interact with Cs3Cu2I5 thin films for the formation of Cu‐I complex with broadband yellow light emission. This approach obviated the need for multi‐layer sedimentary emission layers, resulting in WLEDs featuring a high color rendering index (CRI) of 91, a peak external quantum efficiency (EQE) of 0.71% and maximum luminance of 2116 cd m−2 that is the highest values of lead‐free perovskite WLEDs at present. Therefore, Cs3Cu2I5 NCs have good application prospects in WLEDs.