Summary Many oil and gas resources in deep–sea environments worldwide are often located in high–temperature/high–pressure (HT/HP) and low–permeability reservoirs. The reservoir–pressure coefficient usually exceeds 1.6, with formation temperature greater than 180°C. Challenges are faced for well drilling and completion in these HT/HP reservoirs. A solid–free well–completion fluid with safety density greater than 1.8 g/cm3 and excellent thermal endurance is strongly needed in the industry. Because of high cost and/or corrosion and toxicity problems, the application of available solid–free well–completion fluids such as cesium formate brines, bromine brines, and zinc brines is limited in some cases. In this paper, novel potassium–based phosphate well–completion fluids were developed. Results show that the fluid can reach the maximum density of 1.815 g/cm3 at room temperature, which makes a breakthrough on the density limit of normal potassium–based phosphate brine. The corrosion rate of N80 steel after the interaction with the target phosphate brine at a high temperature of 180°C is approximately 0.1853 mm/a, and the regained–permeability recovery of the treated sand core can reach up to 86.51%. Scanning–electron–microscope (SEM) pictures also support the corrosion–evaluation results. The phosphate brine shows favorable compatibility with the formation water. The biological toxicity–determination result reveals that it is only slightly toxic and is environmentally acceptable. In addition, phosphate brine is highly effective in inhibiting the performance of clay minerals. The cost of phosphate brine is approximately 44 to 66% less than that of conventional cesium formate, bromine brine, and zinc brine. This study suggests that the phosphate brine can serve as an alternative high–density solid–free well–completion fluid during well drilling and completion in HT/HP reservoirs.