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Abstract Combined dry–wet transient materials and devices are introduced, which are based on water‐dissolvable dye‐doped polymers layered onto nonpolar cyclic hydrocarbon sublimating substrates. Light‐emitting heterostructures showing amplified spontaneous emission are obtained on transient elements and used as illumination sources for speckle‐free, full‐field imaging, and transient optical labels are realized that incorporate QR‐codes with stably encoded information. The transient behavior is also studied at the microscopic scale, highlighting the real‐time evolution of material domains in the sublimating compound. Finally, the exhausted components are fully soluble in water thus being naturally degradable. This technology opens new and versatile routes for environmental sensing, storage conditions monitoring, and organic photonics.