Perovskite solar cell (PSC) technology is a promising candidate for space applications because of its high power‐to‐weight ratio, low‐cost fabrication process, and good tolerance to high‐energy particle radiation. In this work, perovskite films and resultant high‐efficiency PSCs are assessed under 10 MeV proton radiation at fluences in the range 1e12–1e14 p cm⁻², which are equivalent to 1 to 100 years in geostationary orbit (GEO) without any shielding or cover. For the first time, void formation and material ablation are detected on perovskite films, indicating structural damage of the materials under the proton radiation. Furthermore, ions inside the devices especially Au and Pb ions are displaced to underlying layers under the proton bombardment. These lead to the degradation of PSCs to ≈89% of the initial performance (from 24.1% to 21.4%) at the highest dose. The experimental results are supported by previous simulation works with a good fit in all optoelectronic parameters. This study provides insights into the degradation mechanism of PSCs under proton radiation and paves the way for the utilization of PSCs in space applications.