We demonstrated ultrathin foldable organic light‐emitting diodes (OLEDs) by using dielectric‐metal‐dielectric (DMD) electrode and polyvinyl alcohol (PVA) substrate. The DMD containing a thin metal layer suppresses waveguide mode formation and help efficiency improvement, and the spin‐coated PVA film forms an ultrathin substrate for OLEDs ~ 1 μm.