Although LiNi0.5Mn1.5O4 (LNMO) high‐voltage spinel is a promising candidate for a next generation cathode material, LNMO/graphite full cells experience severe capacity fading caused by degradation reactions at electrode/electrolyte interfaces and consequent active Li+ loss in the cells. In this study, it is first reported that in situ formation of a Ti–O enriched cathode/electrolyte interfacial (CEI) layer on a Ti‐substituted LiNi0.5Mn1.2Ti0.3O4 (LNMTO) spinel cathode effectively mitigates electrolyte oxidation and transition metal dissolution, which improves the Coulombic efficiency and cycle life of LNMTO/graphite full cells. The Ti–O enriched CEI layer is produced in situ during an initial cycling of LNMTO as a result of selective Mn and Ni dissolution at its surface, as evidenced by various surface characterizations using X‐ray photoelectron spectroscopy, transmission electron microscopy, time‐of‐flight secondary ion mass spectrometry, Raman spectroscopy, and synchrotron‐based soft X‐ray absorption spectroscopy. The Ti–O enriched CEI has an advantage over traditional LNMO powder coatings, namely the formation of conformal CEI without compromising electronic conduction pathways between cathode particles.