We study the three body radiative decay Bs→ϕKˉ0γ by introducing the ϕK pair distribution amplitudes (DAs) in the perturbative QCD approach. This nonperturbative inputs, the two meson DAs, is very important to simplify the calculations. Besides the dominant electromagnetic penguin operator O7γ, the subleading contributions from chromomagnetic penguin operator O8g, quark-loop corrections and annihilation type amplitudes are also considered. We find that the branching ratio for the decay Bs→ϕKˉ0γ is about (9.26−1.61−3.86−0.49+1.79+3.12+0.64)×10−8, which is much smaller compared with that for the decay B0→ϕK0γ. It is mainly because that the former decay induces by b→dγ with small CKM matrix element being proportional to λ3. The prediction for the direct CP asymmetry is ACPdir(Bs→ϕKˉ0γ)=(−4.1−0.6−1.2−0.1+0.4+1.7+0.2)%, which is well consistent with the result from the U-spin symmetry approach. we also predict the Bs→ϕKˉ0γ decay spectrum, which exhibits a maximu at the ϕK invariant masss around 1.95 GeV.