Spectroscopic analysis of trivalent praseodymium (Pr+3) and neodymium (Nd+3) ions have received very much interest and reveals good fluorescence efficiency in visible and near IR (NIR) region. Cadmium sulfide (CdS) nanomaterial sample doped with Pr+3 and Nd+3 ions are synthesized at room temperature by simple chemical precipitation method. The synthesized sample has been characterized by powder X‐ray diffraction studies, scanning electron microscopy, transmission electron microscopy, and energy dispersive X‐ray spectra. Absorption spectra of CdS:Nd3+ and CdS:Pr3+ nanoparticles have been recorded at room temperature. Various parameters such as interplanar spacing, micro strain, dislocation density, distortion parameter, and particle size of nanomaterial are computed. TEM and XRD analysis reveal the spherical structure of the CdS:Nd3+ and CdS:Pr3+ nanoparticles in the prepared samples. Energy interaction parameters of the CdS:Nd3+ and CdS:Pr3+ nanoparticles are computed using UV‐visible absorption spectrum. Actually, CdS nanoparticle amplifies the luminescence intensity of Pr+3, Nd+3 ions by up conversion processes. So energy transfer can be observed from CdS nanoparticles doped with Pr+3, Nd+3 ions. Therefore, the use of pump sources and diode lasers in the UV range can be used to excite these samples to work as lasers. CdS:Nd3+ and CdS:Pr3+ nanoparticles find potential application as a window material for hetero‐junction solar cell, light emitting diodes (LED), biological sensors, address decoders, gas detectors, opto‐electronic devices, etc. CdS nanomaterials are also used as pigment in paints and in engineered plastic due to their good thermal stability.