A ternary structure has been demonstrated as being an effective strategy to realize high power conversion efficiency (PCE) in organic solar cells (OSCs); however, general materials selection rules still remain incompletely understood. In this work, two nonfullerene small‐molecule acceptors 3TP3T‐4F and 3TP3T‐IC are synthesized and incorporated as a third component in PM6:Y6 binary blends. The photovoltaic behaviors in the resultant ternary OSCs differ significantly, despite the comparable energy levels. It is found that incorporation of 15% 3TP3T‐4F into the PM6:Y6 blend results in facilitating exciton dissociation, increasing charge transport, and reducing trap‐assisted recombination. All these features are responsible for the enlarged PCE of 16.7% (certified as 16.2%) in the PM6:Y6:3TP3T‐4F ternary OSCs, higher than that (15.6%) in the 3TP3T‐IC containing ternary devices. The performance differences are mainly ascribed to the compatibility between the third component and the host materials. The 3TP3T‐4F guest acceptor exhibits an excellent compatibility with Y6, tending to form well‐mixed phases in the ternary blend without disrupting the favored bicontinuous transport networks, whereas 3TP3T‐IC displays a morphological incompatibility with Y6. This work highlights the importance of considering the compatibility for materials selection toward high‐efficiency ternary organic OSCs.