Nowadays, luminescent materials attract wide attention due to their valuable characteristics and broad area of potential application. Luminescent silicone-based polymers possess unique properties, such as flexibility, hydrophobicity, thermal and chemical stabilities, etc., which allow them to be utilized in various fields, such as optoelectronics, solid-state lasers, luminescent solar concentrators, sensors, and others. In the present work, a metal-ligand interaction approach was applied to obtain new cross-linked luminescent polymers based on multiligand polysiloxanes with grafted β-diketone fragments and organoeuropiumsiloxanes containing various organic substituents. Organoeuropiumsiloxanes were utilized as a source of Eu3+ ions due to their compatibility with the silicon matrix. All synthesized polymers were fully characterized and their physicochemical, mechanical, self-healing, optical, and thermal properties were studied.