The present invention provide an light emitting device (LED) with wide color gamut (high NTSC), and a LED backlight module with the light emitting device, the light emitting device includes at least one LED chip, wherein the LED chip is a blue or ultraviolet (UV) LED chip, the light-out surface of the LED chip is covered by a phosphor-converted layer which consists of phosphor converted materials and thermosetting colloid materials, the phosphor converted materials contain green-converted phosphor, red-converted phosphor and a special phosphor material that has strong light-absorbing properties in the wavelength range of 460-510 nm. The present invention can reduce the stringent requirements of phosphor FWHM that needs to meet for conventional high NTSC solution.