Using the method of non‐reactive sintering of nanocrystalline powders, highly transparent samples of optical ceramics based on solid solutions of yttrium‐scandium aluminum garnets containing 50 at.% scandium in the dodecahedral position and doped with erbium (1 at.%) and ytterbium (0–49 at.%) cations (YSAG:Yb:Er) were produced. The influence of Yb3+ concentration on the crystal lattice parameter, density, refractive index, stability of YSAG:Yb:Er solid solutions during high‐temperature sintering, thermal conductivity, optical transmittance and absorption coefficients in the wavelength range from 200 to 1100 nm, as well as Stokes and anti‐Stokes luminescence, was determined. The revealed patterns make it possible to fine‐tune the physical and chemical characteristics of ceramics for the design of composite laser materials.