The security of quantum key distribution (QKD) usually relies on that the users' devices are well characterized according to the security models made in the security proofs. In contrast, device-independent QKD-an entanglement-based protocol-permits the security even without any knowledge of the underlying quantum devices. Despite its beauty in theory, device-independent QKD is elusive to realize with current technologies. Especially in photonic implementations, the requirements for detection efficiency are far beyond the performance of any reported device-independent experiments. In this Letter, we report a proof-of-principle experiment of device-independent QKD based on a photonic setup in the asymptotic limit. On the theoretical side, we enhance the loss tolerance for real device imperfections by combining different approaches, namely, random postselection, noisy preprocessing, and developed numerical methods to estimate the key rate via the von Neumann entropy. On the experimental side, we develop a high-quality polarization-entangled photon source achieving a state-of-the-art (heralded) detection efficiency about 87.5%. Although our experiment does not include random basis switching, the achieved efficiency outperforms previous photonic experiments involving loophole-free Bell tests. Together, we show that the measured quantum correlations are strong enough to ensure a positive key rate under the fiber length up to 220 m. Our photonic platform can generate entangled photons at a high rate and in the telecom wavelength, which is desirable for high-speed generation over long distances. The results present an important step toward a full demonstration of photonic device-independent QKD.