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Abstract Magnetic random-access memory (MRAM) based on voltage-controlled magnetic anisotropy in magnetic tunnel junctions (MTJs) is a promising candidate for high-performance computing applications, due to its lower power consumption, higher bit density, and the ability to reduce the access transistor size when compared to conventional current-controlled spin-transfer torque MRAM. The key to realizing these advantages is to have a low MTJ switching voltage. Here, we report a perpendicular MTJ structure with a high voltage-controlled magnetic anisotropy coefficient ~130 fJ/Vm and high tunnel magnetoresistance exceeding 150%. Owing to the high voltage-controlled magnetic anisotropy coefficient, we demonstrate sub-nanosecond precessional switching of nanoscale MTJs with diameters of 50 and 70 nm, using a voltage lower than 1 V. We also show scaling of this switching mechanism down to 30 nm MTJs, with voltages close to 2 V. The results pave the path for the future development and application of voltage-controlled MRAMs and spintronic devices in emerging computing systems.