The nano era demands the synthesis of new nanostructured materials, if possible by simplified techniques, with remarkable properties and versatile applications. Here, we demonstrate a new single-step reproducible melt-quench methodology to fabricate core-shell bimetallic (Au 0 Ag 0 ) nanoparticles (28 89 nm) embedded glasses (dielectrics) by the use of a new reducing glass matrix, K 2 O B 2 O 3 Sb 2 O 3 (KBS) without applying any external reducing agent or multiple processing steps. The surface plasmon resonance (SPR) band of these nanocomposites embedded in KBS glass is tunable in the range 554-681 nm. More remarkably, taking advantage of the selective reduction capability of Sb 2 O 3 , this single-step methodology is used to fabricate inter-metallic: rare-earth ions co-embedded (Au Ag:Sm 3+ ) dielectric (glass)-based-dnanocomposites and study the effect of enhanced local fi eld on the red upconversion fl uorescence of Sm 3+ ions at 636 nm. The enhancement is found to be about 2 folds. This single-step in-situ selective reduction approach can be used to fabricate a variety of hybrid-nanocomposite devices for laser based applications (see supplementary information).