The integrated design of radiation and stealth holds significant importance for radar communication and camouflage. Currently, radar systems primarily rely on radomes for off‐band stealth. However, achieving in‐band stealth by radomes and absorbing materials is challenging. Even more challenging is the dynamic control of both in‐band radiation and stealth. Therefore, a novel space‐time‐coding metasurface is proposed for radiation and stealth modes regulation. By adjusting the two PIN diodes loaded on the meta‐atom, switching between radiation and scattering modes can be achieved. A 1‐bit reflection phase can be achieved in the scattering mode. The stealth is achieved by controlling the scattering properties of the metasurface. In the radiation mode, 2‐bit phase modulation is achieved by separately controlling the PIN diodes on the meta‐atom and the 3 dB coupler. Additionally, by varying the size of the meta‐atom in the y‐polarization direction, a 1‐bit reflection phase also can be achieved. To validate the proposed radiation‐stealth metasurface characteristics, a 12 × 12 prototype is fabricated. This prototype demonstrates important functionalities, including dual‐mode radiation, amplitude‐phase co‐modulation space‐time‐coding stealth, and space‐coding stealth.