Phosphor‐converted near‐infrared (NIR) LEDs are becoming increasingly demanded as miniature, portability, and broad emission spectrum. In this work, a class of Fe3+‐activated double perovskite structured is reported ALaBB′O6 (A = Ba, Sr, Ca; B–B′ = Li–Te, Mg–Sb) phosphors. Through the co‐substitution strategy at the A‐site and B‐B' sites, the emission spectral intensity and position of Fe3+ ions can be tuned. Finally, by utilizing Ca2+ at the A‐site and Mg–Sb co‐substitution for Li–Te, long‐wave NIR emission centered at 995 nm in CaLaMgSbO6: 0.6%Fe3+ with a full width at half maximum of 147 nm and internal quantum efficiency of 54.05% is achieved. The effects of the double perovskite crystal structure on Fe3+ photoluminescence properties are comprehensively analyzed. NIR LEDs are fabricated by encapsulating UV chips with the synthetic CaLaMgSbO6: 0.6%Fe3+ phosphors, and their application value in night vision, nondestructive biological monitoring, and NIR detection is evaluated.