Using computer‐aided design (TCAD) simulation, the impact of the Fe doping profile, including concentration, decay rate, and depth of the doping region on current‐collapse magnitude (∆CC) in 0.5‐μm gated GaN‐based high electron mobility transistors (HEMTs) is systematically investigated. Accurate simulation models are established and developed to facilitate the fabrication of electronics. It is elucidated that the intricate interplay between trapping and de‐trapping of Fe‐related traps at the gate‐drain edge is responsible for current collapse. The concentration and decay rate of the doping region have a more significant impact on current collapse than the depth. Increased trap state density near two‐dimensional electron gas (2DEG) channel caused by deep‐level acceptors would boost ∆CC. However, a minor dynamic reduction in 2DEG density (nT) induces a relatively small ∆CC. By adjusting the concentration, decay rate, and depth of the doping region, ∆CC of GaN‐based Radio Frequency (RF) HEMTs can be reduced by approximately 50.3%.The optimized distribution of Fe doping discussed in this work helps to prepare GaN‐based RF HEMTs with a limited current collapse effect.