(1 – x)Pb(Hf1–yTiy)O3–x Pb(Mg1/3Nb2/3)O3 (x = 0.1 ∼ 0.25, y = 0.555) ternary piezoelectric ceramics were prepared using the two‐step precursor method. Morphotropic phase boundary (MPB) compositions, located at x = 0.18 ∼ 0.22, were confirmed using X‐ray diffraction and by their dielectric, piezoelectric and ferroelectric properties. The optimum dielectric and piezoelectric properties were achieved for the MPB composition 0.8Pb(Hf0.445Ti0.555)O3–0.2Pb(Mg1/3Nb2/3)O3, with dielectric permittivity εr, piezoelectric coefficient d33, planar electromechanical coupling kp and Curie temperature TC being on the order of 2800, 680 pC/N, 70% and 276 °C, respectively. Of particular significance is that the new ternary ceramics exhibit comparable piezoelectric and electromechanical properties to commercial PZT5H ceramics, but with much improved TC, showing a potential for applications at elevated temperature. (© 2012 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim)