Foldable paper‐based solar cells are attractive power sources for wearable and portable applications. Currently, low power conversion efficiency (PCE) and degradation under different folding conditions restrict practical applications of paper‐based solar cells. Herein are constructed solar cells on cellophane paper using oxide/ultrathin Ag/oxide (OMO) and perovskite as electrodes and absorbers, respectively. The perovskite solar cell (PSC) on cellophane exhibits a PCE of 13.19%, the highest among all the paper‐based solar cells. More importantly, beneficial from ultrathin cellophane substrates combined with foldable OMO electrodes, PSCs on paper exhibit 50 single folding and 10 dual folding stability: they preserve 85.3 and 84.1% of the initial PCE after −180° and +180° single folding for 50 cycles, respectively; and they remain 67.2 and 55.3% of the initial PCE after 10 inner and outer dual folding cycles, respectively. Furthermore, the solar cells after dual folding show serious cracks and delamination, leading to faster degradation than single folding. The highly efficient, foldable, and lightweight PSCs on cellophane are promising for future self‐powered paper‐based electronic applications.