Pulsed power systems require high-performance capacitors with high energy storage density. In this work, (1 − x)BaTiO3-xBi(Mg1/2Sn1/2)O3 ferroelectric ceramics were synthesized in a solid-state solution. The sample of x = 0.12 (0.88BT-0.12BMS) has excellent energy storage density, wide temperature, and wide frequency stability. The excellent energy density of 4.87 J/cm3 at 315 kV/cm and the energy efficiency of 72% at room temperature for 0.88BT-0.12BMS ceramics were achieved. Furthermore, the 0.88BT-0.12BMS ceramics demonstrated well temperature stabilities in the range of 20–100 °C and very good frequency stability in the range of 1–100 Hz. Through pulsed charging–discharging testing, the current density is calculated as 314.01 A/cm2, and the power density is 21.98 MW/cm3. Moreover, the oxygen vacancies' defects and ferroelectric domain mechanism for enhanced breakdown strength as well as high energy density were discussed. These findings broaden the horizon for lead-free dielectrics and show promising applications for pulse power capacitors.