Broadband near‐infrared (NIR) phosphors activated by Cr3+ ions are critical for developing NIR phosphor‐converted light‐emitting diodes (pc‐LEDs). The temperature‐dependent behaviors of the narrowband 2E → 4A2 and broadband 4T2 → 4A2 transitions of Cr3+ ions differ, which makes Cr3+‐activated phosphors highly promising for ratio optical thermometers. How to obtain Cr3+‐activated phosphors with both high luminescence efficiency and thermal stability is a challenge. Herein, a strategy of adjusting the doping levels is adopted to precisely control the exchange coupling between Cr3+ ions in LiAl5O8: Cr3+ phosphors. As Cr3+ ions doping concentration increases, the NIR emission shifts from narrowband to broadband. Under heavy doping concentrations, the sample exhibits an unusual broadband emission in a strong crystal field, covering 645 to 1300 nm, with a peak emission wavelength of 950 nm and a FWHM of 295 nm. Simultaneously, a high internal quantum efficiency (IQE = 85%) and excellent thermal stability (I423K/I293K = 86%) are achieved, highlighting the broad application potential of the developed NIR pc‐LEDs. Interestingly, under low‐concentration doping, the sample exhibits dual emission characteristics, and the temperature dependence of its two emission peaks shows opposite trends. Utilizing fluorescence intensity ratio (FIR) technology, the sample achieves a relative sensitivity of 0.30% K⁻¹, highlighting its promising potential for temperature sensing applications.