Although the performance of quantum dot light‐emitting diodes (QLEDs) has been greatly improved in recent years, the multilayer device structure has become increasingly complex, limiting the practical application of QLEDs. Here, a novel trilayer PIN QLED with only three functional layers, which are Spiro‐OMeTAD:TFB bulk‐heterojunction (BHJ) hole transport layer (HTL), quantum‐dot emitting layer and ZnMgO electron transport layer is demonstrated. Due to the enhanced hole injection capability and suppressed electron leakage of Spiro‐OMeTAD:TFB BHJ HTL, the trilayer PIN QLED can show an excellent external quantum efficiency (EQE) of 25.1% and an impressive brightness of 299300 cd m−2 at only 8 V, which are significantly higher than those of conventional QLED. Moreover, the device stability is also remarkably improved due to the mitigation of hole accumulation and removal of unstable PEDOT:PSS. By using liquid alloy EGaIn as cathode, a fully solution‐processed vacuum‐free trilayer PIN QLED with a higher EQE of 27.3% can be further realized. The developed trilayer PIN QLEDs, with better performance and fewer functional layers, can promote the commercialization of QLED technology.