The influence of stress on the small‐signal dielectric permittivity and piezoelectric coefficient of polycrystalline lead‐free perovskite 0.92(Na1/2K1/2)NbO3–(0.08 − x)Bi1/2Li1/2TiO3–xBaZrO3 (x = 0, 0.02, 0.04, 0.06, and 0.07) was characterized under different constant uniaxial stress up to −200 MPa within a temperature range of −150 to 450°C, revealing stress‐induced suppression of the electromechanical response as well as shifts in the phase boundaries. For all compositions, the interferroelectric and ferroelectric–paraelectric phase transitions were shifted to higher temperatures under the uniaxial compressive stress. Interestingly, the sensitivity to the applied stress was found to increase with increasing BZ/BLT ratio in the system. The origin of a different extent of stress‐sensitivity with BZ/BLT ratio is suggested to be related to the change in the crystal structure. Additionally, at temperatures below −50°C, the relative permittivity showed a significant increase under applied compressive stress.