Polymeric core–shell microstructures have been constructed through a new method, namely sequential precipitation, which is intrinsically a self‐assembly and phase separation process. High‐quality poly(vinyldene fluoride)–polycarbonate–lithium perchlorate composite films with spherical core–shell microstructures have been prepared and determined to consist of conducting cores and insulating shells. Because of the percolation effect, the resulting materials present a dielectric constant as high as 104–107 at the threshold.