Described here are sterically hindered tetradentate Pt(O^N^C^N) emitters (Pt‐1, Pt‐2, and Pt‐3) developed for stable and high‐performance green phosphorescent organic light‐emitting diodes (OLEDs). These Pt(II) emitters exhibit strong saturated green phosphorescence (λmax = 517–531 nm) in toluene and mCP thin films with emission quantum yields as high as 0.97, radiative rate constants (kr) as high as 4.4–5.3 × 105 s−1 and reduced excimer emission, and with a preferential horizontally oriented transition dipole ratio of up to 84%. Theoretical calculations show that p‐(hetero)arene substituents at the periphery of the ligand scaffolds in Pt‐1, Pt‐2, and Pt‐3 can i) enhance the spin‐orbit coupling (SOC) between the lower singlet excited states and the T1 state, and S0→Sn (n = 1 or 2) transition dipole moment, and ii) introducing additional SOC activity and the bright 1ILCTπ(carbazole)→π*(N^C^N) excited state (Pt‐2 and Pt‐3), which are the main contributors to the increased kr values. Utilizing these tetradentate Pt(II) emitters, green phosphorescent OLEDs are fabricated with narrow‐band electroluminescence (FWHM down to 36 nm), high external quantum efficiency, current efficiency up to 27.6% and 98.7 cd A−1, and an unprecedented device lifetime (LT95) of up to 9270 h at 1000 cd m−2 under laboratory conditions. Operationally stable and high‐performance vapor‐deposited saturated green phosphorescent organic light‐emitting diodes are realized with robust and sterically hindered tetradentate Pt(O^N^C^N) emitters. The corresponding Pt‐based devices display EL spectra with full width at half maximum down to 36 nm, high external quantum efficiency and current efficiency of up to 27.6% and 98.7 cd A−1, respectively, alongside practical device lifetimes (LT95) of up to 9270 h at an initial luminance of 1000 cd m−2.