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Dielectric capacitors are very attractive for high power energy storage. However, the low energy density of these capacitors, which is mainly limited by the dielectric materials, is still the bottleneck for their applications. In this work, lead-free single-phase perovskite Srx(Bi1−xNa0.97−xLi0.03)0.5TiO3(x = 0.30 and 0.38) bulk ceramics, prepared using solid-state reaction method, were carefully studied for the dielectric capacitor application. Polar nano regions (PNRs) were created in this material using co-substitution at A-site to enable relaxor behaviour with low remnant polarization (Pr) and high maximum polarization (Pmax). Moreover, Pmaxwas further increased due to the electric field induced reversible phase transitions in nano regions. Comprehensive structural and electrical studies were performed to confirm the PNRs and reversible phase transitions. And finally a high energy density (1.70 J/cm3) with an excellent efficiency (87.2%) was achieved using the contribution of field-induced rotations of PNRs and PNR-related reversible transitions in this material, making it among the best performing lead-free dielectric ceramic bulk material for high energy storage.