Electrochemical Li insertion/de‐insertion studies were performed on monoclinic W2O3(PO4)2 in the voltage window of 3.5‐1.8 V vs. Li+/Li. At C/5 rate, 2.0 Li+ ions/f.u (90 mAh g−1 ) are inserted in the lattice during first discharge and 1.75 Li+ ions (75 mAh g−1 ) are de‐inserted during first charge with a reversible two phase process. A stable discharge capacity of 65 and 55 mAh g−1 were obtained in the voltage window of 3.5‐1.8 V and 3.5‐2.25 V at C/5 rate, respectively. In case of discharge to 1.4 V, the initial discharge capacity of 200 mAh g−1 was obtained with insertion of 4.5 Li+ ions. The irreversible phase change was observed on charge with 11th cycle discharge capacity of 50 mAh g−1. The X‐ray photo electron spectroscopy analysis shows the feasibility of W6+/ W5+ and W5+/W4+ redox couples vs. Li+/Li. The sodium ion insertion into the crystal lattice leads to poor reversibility with delivered discharge capacity of 30 mAh g−1 at the end of 25 cycles at C/5 rate in the voltage window of 1.2‐3.0 V vs. Na+/Na. Ex‐situ X‐ray diffraction patterns indicate that Li insertion/de‐insertion was possible in the parent phase. Formation of a new phase was observed which was also amenable for facile insertion/de‐insertion of Li. Both the parent as well as the new phase undergoes reversible phase transitions during the process of insertion/de‐insertion of Li in the voltage window of 1.8‐3.5 V.