Herein, Cu(II)Pcs and Ni(II)Pcs peripherally tetra‐functionalized with 5‐hexylthiophene (HT), 5‐hexyl‐2,2′‐bithiophene (HBT), and tertbutyl groups (TB) are readily synthesized and employed as hole‐transporting materials (HTMs) in mixed‐ion perovskite ([FAPbI3]0.85[MAPbBr3]0.15) solar cells, achieving power conversion efficiencies (PCEs) up to 20.0%. Remarkably, both the peripheral functionalization and the central metal are found to play a role in the performance. Through a combination of experimental and theoretical techniques, it is found that the simplest HTM, TB‐CuPc, is the best‐performing HTM primarily due to its higher hole mobility and a more appropriate highest‐occupied molecular orbital, whose enables efficient hole extraction without open‐circuit voltage (Voc)losses. This derivative leads to PCEs of 19.96%, which are among the highest values for Pc‐based HTMs. Importantly, devices incorporating these HTMs present significantly higher stability compared to those based on spiro‐OMeTAD. The results here presented pave the way for more realistic, efficient, and inexpensive photovoltaic devices using phthalocyanine derivatives.