High‐power piezoelectric ceramics are typically driven to output vibration velocity (v0) under high AC electric fields. Herein, the Fe2O3 doped 0.125 Pb(Zn1/3Nb2/3) O3–0.075 Pb(Mn1/3Nb2/3)O3–0.8 Pb(Zr0.48Ti0.52)O3(PZMNZT–xFe; x = 0.05–0.35) piezoelectric ceramics were prepared to enhance v0, and the favorable comprehensive electrical properties, such as d33 = 315 pC/N, Qm = 1738, kp = 0.58, kt = 0.48, εr = 1156, tan δ = 0.4%, and Tc = 320°C, were achieved in the PZMNZT–0.15Fe ceramic. Most importantly, the PZMNZT–0.15Fe ceramic presented a reliable v0 of 0.90 m/s, which was 2.25 times of the commercial PZT4 ceramic (∼0.40 m/s). The excellent high‐power performance should be attributed to ordering functional elements such as crystal grains and ferroelectric domains. Overall, this work reveals that the PZMNZT–0.15Fe ceramic is competitive for high‐power applications.