A high‐efficiency polarization conversion metasurface (PCM) is proposed and applied to radar cross section (RCS) reduction. The PCM can achieve cross‐polarization conversion with a polarization conversion ratio of over 97% from 13.9 to 30.3 GHz, covering K‐band. The low‐RCS antenna is designed from a circularly polarized patch antenna loading with the PCM. The antennas with and without PCM are fabricated and measured. The results show that the radiation performance is well preserved and the scattering performance is greatly improved. The average monostatic RCS reduction value reaches 14.6 dB in an ultra‐wideband from 12.2 to 30.2 GHz under normal incidence. What's more important, bistatic RCS is researched in detail and evident RCS reduction is achieved at different incidence angles. This research has potential applications in the field of stealth platform.