Innovative materials for phosphor converted white light-emitting diodes are in high demand owing to the huge potential of the light-emitting diode technology to reduce energy consumption worldwide. As the primary blue diode is already highly optimized, the conversion phosphors are of crucial importance for any further improvements. We report on the discovery of the high performance red phosphor Sr[Li₂Al₂O₂N₂]:Eu²⁺ meeting all requirements for a phosphor’s optical properties. It combines the optimal spectral position for a red phosphor, as defined in the 2016 Research & Development-plan of the United States government, with an exceptionally small spectral full width at half maximum and excellent thermal stability. A white mid-power phosphor-converted light-emitting diode prototype utilising Sr[Li₂Al₂O₂N₂]:Eu²⁺ shows an increase of 16% in luminous efficacy compared to currently available commercial high colour-rendering phosphor-converted light-emitting diodes, while retaining excellent high colour rendition. This phosphor enables a big leap in energy efficiency of white emitting phosphor-converted light-emitting-diodes.