Many researchers have been developed phosphor sensitized blue TADF OLEDs (PST‐OLED) to achieve high efficiency and long operation lifetime. However, degradation mechanism of this system is still unclear and need to be unveiled to set guideline for material design. In this study we successfully confirmed the degradation mechanism of the devices using photo‐/electro‐physical spectroscopy and developed semi‐empirical degradation model for PST‐OLEDs.