A new triiodide ion‐selective PVC membrane sensor based on diprotonated ketoconazole‐triiodide, as (KCH2)(I3)2, ion pair, was proposed. The electrode has a linear dynamic range between 2.0×10−3 and 7.0×10−6 M with a Nernstian slope of −59.9±1.6 mV per decade and a detection limit of 3.0×10−6 M. The potentiometric response is independent of the pH of the solution in the pH range 2–8.5. The electrode can be used for at least 3 months without any considerable divergence in potential. It was applied as indicator electrode in potentiometric titration of ascorbic acid, hydroquinone from pharmaceutical preparations and triiodide ions in solution. The proposed triiodide membrane sensor was also used in development of a new, simple, fast, inexpensive and precise method for the determination of Ketoconazole in formulations.