A series of Sr1−xDyxTi1−yNbyO3−δ (0.05 ≤ x, y ≤ 0.10) samples were fabricated using cold compaction, followed by sintering in a (95% N2 + 5% H2) reducing atmosphere. We studied the crystal structure and optical properties of Sr1−xDyxTi1−yNbyO3−δ using X-ray diffraction (XRD) with Rietveld refinement, scanning electron microscopy (SEM), X-ray photoelectron spectroscopy (XPS), and ultraviolet−visible−near-infrared (UV−VIS−NIR) spectroscopy. The sintered Sr1−xDyxTi1−yNbyO3−δ had a tetragonal structure (I4/mcm space group). In the sintered samples, Ti ions existed as a mixture of Ti3+ and Ti4+, and Nb ions existed as a mixture of Nb4+ and Nb5+. The band-gap energies decreased with increasing Dy/Nb concentrations. The incorporation of Ti and Nb ions, the formation of both Ti3+ and Nb4+ ions, and the reduction in band-gap energies are likely highly effective for increasing the electron concentration and the corresponding electrical conductivity. Sr1−xDyxTi1−yNbyO3−δ with high electrical conductivity is suitable for energy and electronics applications.