Herein, the influence of ion vacancy migration on the open‐circuit voltage (Voc) of perovskite solar cells (PSCs) by computer simulation is explored. It is found that for PSCs, Voc is determined not only by the carrier recombination process, but also dominantly by the space charge effect of the ion vacancy stored within the Debye layers of the perovskite absorber layer. The migration of ion vacancy affects the ionic charge accumulation within the Debye layers, which affects the screen voltage via the space charge effect and thus determines Vocr and Vocf (open‐circuit voltage for reverse sweep and forward sweep, respectively). By tuning the parameters that determine ion vacancy mobility, the effects of ion vacancy mobility on Vocr and Vocf is investigated.