Stretchable fiber‐based electrodes are highly desired for the applications of wearable electronics owing to their good durability, excellent deformability, and easy attachment onto a curved surface in comparison with thin film electrodes. However, it is a critical challenge to fabricate a fiber‐based electrodes with low surface roughness and high conductivity under a large mechanical strain. In this study, the fabrication of stretchable and conductive epoxy/NBR‐20 fiber, spray‐coated with silver nanowire/waterborne polyurethane composite, is demonstrated via the combination of electrospinning and spray‐coating techniques. Such a fiber‐based electrode can maintain low resistance (less than 150 Ω) by stretching up to 40% strain and sustain at 30% strain for 200 stretch/release cycles. The deformable conductive fibers can serve as a promising fiber‐based bottom electrode for resistive memory devices and show volatile DRAM characteristics with an ON/OFF memory ratio of 102.