Abstract Despite recognition of the importance of women's political rights for the functioning of modern states, women's participation in political debate and decision‐making remains low around the world. As the first study of its kind, this article examines the impact of women's political empowerment on military spending. Using a sample of 163 developed and developing countries, the article shows that women's political empowerment helps to reduce military spending. Moreover, this result remains robust when dealing with the level of development, endogeneity issues and geographical location. As an explanation, we highlight the role of women politically engaged in improving governance through the reduction of corruption, peacebuilding, their preference for social spending like education and health and their role in reduction discrimination against women.