A series of Tm3+/Ho3+ co-doped tellurite glasses were successfully prepared by the melt-quenching method. The spectroscopic properties around 2 μm of Tm3+/Ho3+ co-doped tellurite glasses were studied under 808 nm laser excitation. Based on the Judd-Ofelt theory, the phenomenological intensity parameters Ωt (t=2, 4, 6) of the Tm3+/Ho3+ co-doped tellurite glasses were calculated. In addition, the emission cross-section and the gain coefficient of Ho3+ were calculated, and the maximum values are 0.76×10-20 and 1.38 cm-1, respectively. These results portend that the Tm3+/Ho3+ co-doped tellurite glass has excellent spectroscopic properties and attractive laser performance in mid-infrared waveband.