To realize efficient and broadband near infrared (NIR) light in both NIR‐I and NIR‐II regions, Gd3Mg0.5Al1.5Ga2.5Ge0.5O12 (GMAGG): Cr3+, Yb3+, Ni2+ phosphors are prepared in this study. The effects of Cr3+‐Yb3+ co‐doping and Cr3+‐Yb3+‐Ni2+ tri‐doping on the luminescence properties are investigated. GMAGG: Cr3+, Yb3+ exhibits high internal quantum efficiency (IQE) of 96.4%, and near‐zero thermal quenching (96.5%@423 K) in 650–1100 nm. By constructing energy transfer from Cr3+ to Ni2+, the emission range of GMAGG: Cr3+, Yb3+, Ni2+ is further extended to 650–1700 nm with a high IQE of 28% and good thermal stability (66%@423 K). The NIR LEDs prepared with GMAGG: 0.04Cr3+, 0.008Yb3+, and GMAGG: 0.04Cr3+, 0.008Yb3+, 0.04Ni2+ exhibit 57.5 and 8.1 mW at an input current of 100 mA, respectively. The results show that GMAGG: Cr3+, Yb3+, Ni2+ is a promising NIR phosphor for NIR light sources.