Incorporating specific motifs to provide tangible evidence of authenticity is a direct and effective measure against counterfeiting. However, achieving multi‐level anticounterfeiting through multiple motifs requires utilizing numerous stimulus sources to configure region‐specific emissions with customizable colors, which is complex, costly, and inaccessible. To address this challenge, a hybrid luminescent display is developed by integrating an internal down‐conversion layer with an organic light‐emitting diode (OLED). The internal down‐conversion layer can effectively extract the substrate and waveguide modes, resulting in a very rare outcome where the efficiency of a hybrid down‐conversion white OLED exceeds that of the pump light source. More importantly, by combining voltage‐modulated color‐tunable electroluminescence (EL) with EL‐induced down‐conversion luminescence, this unique design can precisely create dynamic and configurable multi‐color display patterns using only electrical stimulation. For anticounterfeiting purposes, the further amalgamation of the dynamic hybrid luminescent display device with the Internet of Things for digital authentication, and with fingerprint features for physical unclonable functions showcases unprecedented security. These results herald a new generation of multilevel luminescent anticounterfeiting technology.