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Abstract Using proton–proton collision data corresponding to an integrated luminosity of$$140\hbox { fb}^{-1}$$ $140{\text{fb}}^{-1}$collected by the CMS experiment at$$\sqrt{s}= 13\,\text {Te}\hspace{-.08em}\text {V} $$ $\sqrt{s}=13\text{Te}\text{V}$, the$${{{\Lambda }} _{\text {b}}^{{0}}} \rightarrow {{\text {J}/\uppsi }} {{{\Xi }} ^{{-}}} {{\text {K}} ^{{+}}} $$ ${\Lambda }_{\text{b}}^0\to \text{J}/\psi {\Xi }^{-}{\text{K}}^{+}$decay is observed for the first time, with a statistical significance exceeding 5 standard deviations. The relative branching fraction, with respect to the$${{{\Lambda }} _{\text {b}}^{{0}}} \rightarrow {{{\uppsi }} ({2\textrm{S}})} {{\Lambda }} $$ ${\Lambda }_{\text{b}}^0\to \psi \left(2\text{S}\right)\Lambda$decay, is measured to be$$\mathcal {B}({{{\Lambda }} _{\text {b}}^{{0}}} \rightarrow {{\text {J}/\uppsi }} {{{\Xi }} ^{{-}}} {{\text {K}} ^{{+}}} )/\mathcal {B}({{{\Lambda }} _{\text {b}}^{{0}}} \rightarrow {{{\uppsi }} ({2\textrm{S}})} {{\Lambda }} ) = [3.38\pm 1.02\pm 0.61\pm 0.03]\%$$ $B({\Lambda }_{\text{b}}^0\to \text{J}/\psi {\Xi }^{-}{\text{K}}^{+})/B({\Lambda }_{\text{b}}^0\to \psi \left(2\text{S}\right)\Lambda )=[3.38\pm 1.02\pm 0.61\pm 0.03]\%$, where the first uncertainty is statistical, the second is systematic, and the third is related to the uncertainties in$$\mathcal {B}({{{\uppsi }} ({2\textrm{S}})} \rightarrow {{\text {J}/\uppsi }} {{{\uppi }} ^{{+}}} {{{\uppi }} ^{{-}}} )$$ $B(\psi \left(2\text{S}\right)\to \text{J}/\psi {\pi }^{+}{\pi }^{-})$and$$\mathcal {B}({{{\Xi }} ^{{-}}} \rightarrow {{\Lambda }} {{{\uppi }} ^{{-}}} )$$ $B({\Xi }^{-}\to \Lambda {\pi }^{-})$.