Sulfide solid electrolytes have received particular attention due to their outstanding ionic conductivity and good mechanical ductility. Nevertheless, their chemical instability toward humid air is a significant challenge that impedes the commercialization of all‐solid‐state batteries. Herein, air‐stable Li 4 P 0.9 Sb 0.1 S 4 I solid electrolyte is synthesized by doping LiI and partially replacing P with Sb in Li 3 PS 4 electrolyte. The Li 4 P 0.9 Sb 0.1 S 4 I solid electrolyte shows superior chemical stability under 30% relative humidity air, which is attributed to the generated LiI·H 2 O protective barrier between electrolyte and H 2 O molecule. In addition, benefitting from the formation of a Li 4 PS 4 I phase with Sb substitution, the Li 4 P 0.9 Sb 0.1 S 4 I electrolyte possesses high ion conductivity of 1.6 mS cm −1 . Moreover, the Li/Li 4 P 0.9 Sb 0.1 S 4 I/Li battery can stably cycle for 1500 h at 0.1 mA cm −2 , showing enhanced stability against lithium. As a result, the LiCoO 2 /Li 4 P 0.9 Sb 0.1 S 4 I/Li battery delivers an initial discharge capacity of 109.2 mAh g −1 with a capacity retention of 83.6% after 500 cycles at 1C. These results demonstrate a promising Li 4 P 0.9 Sb 0.1 S 4 I solid electrolyte with high ionic conductivity, favorable stability against moisture and lithium for all‐solid‐state lithium batteries.