A series of Dy3+/Eu3+ single‐ and co‐doped calcium borosilicate luminescent glasses were prepared by the conventional high temperature melt‐quenching method. A compact glass structure is obtained by the addition of Dy3+/Eu3+ ions, which is verified by the physical properties of synthetic glasses. As network modifiers, Dy3+/Eu3+ fill in the interspaces of glass network and contribute to the conversion of [BO3] to [BO4]. Dy3+/Eu3+ co‐doped calcium borosilicate glasses can emit white light, which consists of blue, yellow, and red light under 387 nm excitation. The emission spectra and decay curves of the white‐emitting glasses have proved the existence of energy transfer. The average lifetime of Dy3+ decreases from 0.251 to 0.165 ms with the increasing Eu3+ concentration. Changing rare earth ions concentration, CIE color coordinates of Dy3+/Eu3+ co‐doped glass shifts from cyan to white with increasing excitation wavelength. A white‐light emission is obtained when the concentration of Dy3+ and Eu3+ equals to 4% and 2%, respectively. Moreover, the Dy3+/Eu3+ co‐doped calcium borosilicate glass shows high‐thermal stability and it may be applicable for high‐quality white LEDs based on high power near ultraviolet (n‐UV) LED chip in the future.