A new laser crystal Lu 2.4 Y 0.6 Al 5 O 12 (LuYAG) co-doped with Cr 3+ , Tm 3+ , Ho 3+ , and Pr 3+ ions was grown successfully by the Czochralski method for the first time. The structure parameters of the Cr,Tm,Ho,Pr:LuYAG crystal are determined by the X-ray Rietveld refinement method. Main absorption bands near 426 and 782 nm are observed, and the fluorescence spectrum excited by 450 nm or 783 nm LD presents emission band near 2.911 μm, indicating that the co-doped Cr 3+ and Tm 3+ions can be utilized as the sensitizer for the Ho 3+ ions. The lifetimes of the 5 I 6 and 5 I 7 levels of the Ho 3+ ions were measured and fitted to be 0.070 ms and 1.852 ms, respectively. The energy transfer efficiencies of 5 I 6 (Ho 3+ ) → 3 F 3,4 (Pr 3+ ) and 5 I 7 (Ho 3+ ) → 3 F 2 (Pr 3+ ) + 3 H 6 (Pr 3+ ) processes were calculated, showing that the Pr 3+ ions can play a role of the deactivator for the Ho 3+ ions. Furthermore, the energy transfer mechanisms among the Cr 3+ , Tm 3+ , Ho 3+ , and Pr 3+ ions are studied. These results suggest that the Cr,Tm,Ho,Pr:LuYAG crystal is a new promising laser medium operated around 2.9 μm under a flash lamp or 783 nm LD pumping.