Pr3+, Gd3+ co‐doped SrF2 transparent ceramic, as the potential material for visible luminescent applications, was prepared by hot‐pressing of precursor nanopowders. The microstructure, phase compositions, and in‐line transmittance, as well as the photoluminescence properties were investigated systematically. Highly optical quality Pr,Gd:SrF2 transparent ceramic with nearly pore‐free microstructure was obtained at 800°C for 1.5 hours. The average in‐line transmittance of the x at.% Pr, 6 at.% Gd:SrF2 (x = 0.2, 0.5, 1.0, 2.0) transparent ceramics reached to 87.3 % in the infrared region. The photoluminescence spectra presented intense visible light emissions under the excitation of 444 nm, the main intrinsic emission bands located at 483 and 605 nm, which were attributed to the transitions of Pr3+: 3P0 → 3H4 and 1D2 → 3H4, respectively. With the co‐doping of Gd3+ ions, the emission intensity of the Pr:SrF2 transparent ceramic was greatly enhanced. All the emission bands of x at.% Pr, 6 at.% Gd:SrF2 transparent ceramics exhibited the highest luminescence intensity with the 1.0 at.% Pr3+ doping concentrations, whereas the lifetimes decreased dramatically with the Pr3+ doping contents increasing from 0.2 to 2.0 at.% due to its intense concentration quenching effect. The 1 at.% Pr, 6 at.% Gd:SrF2 transparent ceramic is a promising material for visible luminescent device applications.