ABX3 halide‐perovskites (HPs) have emerged as promising alternatives for optoelectronic devices owing to their excellent properties and low cost. Generally, A is either Cs or an organic molecule while B is Pb, or Sn and X = I, Br, or Cl. Here, we have performed ab‐initio calculations on K‐based new HP with X as a mixture of F and Cl. Solid‐state synthesis led to a mixed KPbF2Cl HP with an orthorhombic structure as determined from X‐ray diffraction and energy dispersive X‐ray spectroscopy. The high formation energy (‐0.546 eV/atom) shows excellent stability of this HP. Scanning electron microscopy reveals rodlike structures while X‐ray photoelectron spectroscopy is performed for chemical analysis. Diffuse reflectance shows it to have a wide band gap of ∽4 eV, in good agreement with the band‐structure calculations. Further, we find a strong photoluminescence peak at ∽340 nm for radiative recombination of free excitons along with a broad emission peaking at ∽450 nm owing to the involvement of self‐trapped excitons associated with lattice distortion. Our finding of this stable HP could lead to high‐frequency applications, along with other applications such as transparent and low‐loss optical windows, prisms etc. as well as development of novel optical materials by doping.This article is protected by copyright. All rights reserved.