Abstract The realization of high color rendering index (CRI) is still a great challenge for high‐power LEDs (hp‐LEDs), which is hindered by the phosphor converter. In this work, based on the strategy of Ce 3+ and Mn 2+ multi‐ion substitution, the single‐structured LuAG:Ce,Mn ceramics with high CRI were prepared via regulating the ratio of tri‐color (red, green, and blue) components. The effects of Mn 2+ ‐Si 4+ pairs doping content on the crystal structure, morphologies, and luminescence properties were investigated in detail. The red emission centered at 590 and 750 nm were effectively compensated by regulating Mn 2+ occupancy sites, resulting in a significant improvement of CRI. Pure white light with general CRI R a up to 91.0, special CRI R 9 reaching 37.9 and LE as high as 85.07 lm/W was achieved, when the hp‐LEDs were constructed from related phosphor ceramic Ce02Mn7. These results suggest that the LuAG:Ce,Mn phosphor ceramics are highly promising color converters for hp‐LEDs application.