A novel exciplex-forming host is applied so as to design highly simplified reddish orange light-emitting diodes (OLEDs) with low driving voltage, high efficiency, and an extraordinarily low efficiency roll-off, by combining N,N-10-triphenyl-10H-spiro [acridine-9,9'-fluoren]-3'-amine (SAFDPA) with 4,7-diphenyl-1,10-phenanthroline (Bphen) doped with trivalent iridium complex bis(2-methyldibenzo[f,h]quinoxaline) (acetylacetonate)iridium(III) (Ir(MDQ)(acac)). The reddish orange OLEDs achieve a strikingly high power efficiency (PE) of 31.80 lm/W with an ultralow threshold voltage of 2.24 V which is almost equal to the triplet energy level of the phosphorescent reddish orange emitting dopant. The power efficiency of the device with the exciplex-forming host is enhanced, achieving 36.2% mainly owing to the lower operating voltage by the novel exciplex forming cohost, compared with the reference device (23.54 lm/W). Moreover, the OLEDs show extraordinarily low current efficiency (CE) roll-off to 1.41% at the brightness from 500 to 5000 cd/m with a maximal CE of 32.87 cd/A (EQE = 11.01%). The devices display a good reddish orange color (CIE of (0.628, 0.372) at 500 cd/m) nearly without color shift with increasing brightness. Co-host architecture phosphorescent OLEDs show a simpler device structure, lower working voltage, and a better efficiency and stability than those of the reference devices without the cohost architecture, which helps to simplify the OLED structure, lower the cost, and popularize OLED technology.