Despite the rapid progress in inorganic cesium lead halide perovskite (CsPbX3) materials originating from excellent thermal stability; their poor phase stability at room temperature and lower efficiency compared to organic-inorganic counterparts still limit their development toward commercialization. Recently, Pb-site doping of inorganic perovskites stand outs for the improvement of aforementioned issues for emerging photovoltaic applications. Herein, we introduce a compositional engineering approach to tune the CsPbI2Br crystallization by directly incorporating iron (II) chloride (FeCl2) into perovskite precursor. The small amount of FeCl2 stabilizes the black α-phase to avoid the undesirable formation of the non-perovskite phase owing to Fe2+ induced grain size reduction. Besides, the FeCl2 incorporation thoroughly align the energy level, promote the built-in potential (Vbi), and reduce the defect states in the perovskite, resulting in a record power conversion efficiency (PCE) of 17.1% with a remarkable open-circuit voltage (VOC) of 1.31 V. More importantly, FeCl2-doped CsPbI2Br-based devices exhibit an exceptional operational stability with a retention of over 95% initial PCE after 330 h at maximum power point (MPP) tracking.