Rollable, bendable, twistable, and foldable polymer–oxide–metal multistacked hybrid films are demonstrated, which simultaneously act as multifunctional electrodes in flexible polymer‐dispersed liquid crystal (PDLC) windows and flexible and transparent thin‐film heaters (TFHs) for self‐cleanable and flexible smart windows. By continuous sputtering of a thin polytetrafluoroethylene (PTFE)–indium tin oxide (ITO)–AgPdCu (APC) multilayer on a colorless polyimide substrate, transparent and multifunctional films are fabricated with a low sheet resistance of 7 Ω □−1, high optical transmittance of 83% at a wavelength of 550 nm, low transmittance in the infrared region, and a high contact angle of 109°. Based on inner/outer bending, rolling, twisting, and folding tests, the outstanding flexibility of these PTFE/ITO/APC multistacked films is demonstrated. The flexible PDLC and flexible TFHs with PTFE/ITO/APC multistacked electrodes show a controllable transmittance range between the on and off states that is nearly 40%, and a high saturation temperature of 111 °C is observed at a low applied voltage of 4 V. The multifunctional properties of the flexible PDLC and TFHs fabricated on PTFE/ITO/APC hybrid films indicate that the polymer–oxide–metal hybrid film is a versatile transparent electrode that can be used for flexible, smart, and energy‐saving windows.