Polyethylene oxide (PEO) is one of the most widely used polymeric ion conductors which has the potential for a wide range of applications in energy storage. The enhancement of ionic conductivity of PEO-based electrolytes is generally achieved by sacrificing the mechanical properties. Using layer-by-layer (LbL) self-assembly with a nanoscale precision, mechanically strong and self-healable PEO/polyacrylic acid composite thin films with a high Li+ conductivity of 2.3 ± 0.8 × 10−4 S cm−1 at 30 °C, and a strength of 3.7 MPa is prepared. These values make the LbL composite among the best recorded multifunctional solid electrolytes. The electrolyte thin film withstands at least 1000 cycles of striping/plating of Li at 0.05 mA cm−2. It is further shown that the LbL thin films can be used as separators for Li-ion batteries to deliver a capacity of 116 mAh g−1 at 0.1 C in an all-LbL-assembled lithium iron phosphate/lithium titanate battery. Finally, it is demonstrated that the thin films can be used as ion-conducting substrates for flexible electrochemical devices, including micro supercapacitors and electrochemical transistors.