As one of the important electronic components, the dielectric capacitors for energy storage applications have been extensively studied in recent years. Among various dielectric materials, the perovskite oxide Bi0.5Na0.5TiO3‐based ceramics have become promising candidates due to their high polarization, dielectric tunability, environment‐friendly composition, and so forth. Herein, the relaxor ferroelectric ceramics of Bi0.5Na0.5TiO3–SrTiO3–Bi(Mg0.5Zr0.5)O3 were prepared via solid‐state reaction method. The sample with optimal composition not only retains the high polarization by introducing Bi3+ ions, but also achieves the reduced remanent polarization by enhancing relaxor behavior and the promoted electric breakdown strength by the grain size refinement. Accordingly, a high recoverable energy density of 8.3 J/cm3 under 450 kV/cm and the superb charge/discharge properties (current density CD = 1200 A/cm2, power density PD = 150 MW/cm3, charge/discharge time t0.9 = 0.15 µs) are achieved, revealing great prospect in energy storage applications.