In this work, combining both advantages of potassium‐ion batteries and dual‐ion batteries, a novel potassium‐ion‐based dual‐ion battery (named as K‐DIB) system is developed based on a potassium‐ion electrolyte, using metal foil (Sn, Pb, K, or Na) as anode and expanded graphite as cathode. When using Sn foil as the anode, the K‐DIB presents a high reversible capacity of 66 mAh g−1 at a current density of 50 mA g−1 over the voltage window of 3.0–5.0 V, and exhibits excellent long‐term cycling performance with 93% capacity retention for 300 cycles. Moreover, as the Sn foil simultaneously acts as the anode material and the current collector, dead load and dead volume of the battery can be greatly reduced, thus the energy density of the K‐DIB is further improved. It delivers a high energy density of 155 Wh kg−1 at a power density of 116 W kg−1, which is comparable with commercial lithium‐ion batteries. Thus, with the advantages of environmentally friendly, cost effective, and high energy density, this K‐DIB shows attractive potential for future energy storage application.