A series of quaternary tellurite‐based glasses (72−x)TeO2 + 25B2O3 + 3K2CO3 + xDy2O3, where (x = 0, 0.5, 1, 1.5, 2, 2.5), are prepared using melt quenching technique. The effect of dopants on structural, physical, optical, and thermal properties of alkali boro‐tellurite glasses are studied using the differential thermal analysis (DTA) technique, UV–vis spectrometer, and photoluminescence technique. The density of as‐prepared samples has been obtained using the conventional Archimedes principle and other physical parameters, viz. molar volume and ion concentration, are also calculated using density. The optical absorption spectra exhibits different excited states of Dy3+ corresponding to 6H15/2→ 6F5/2(∼805 nm), 6F3/2(∼755 nm), 4F9/2 (∼473 nm), 4I15/2 (∼454 nm), 4G11/2 (∼427 nm), 4F7/2(389 nm), 4P3/2(∼366 nm). With the increase in Dy+3 concentration, an increase in optical bandgap, density, and molar volume as well as decrease in molar reflectivity, and reflection loss is evident from this study. The effect of Dy+3 ion concentration on Y/B intensity ratios and CIE chromaticity coordinates have been evaluated to understand the possible applications of aforementioned glass samples for white‐light‐emitting diodes (WLEDs). Moreover, various shielding parameters, viz. half value layer (HVL), mean free path (MFP), effective atomic number (Z
eff), mass attenuation coefficient (MAC) have also been determined to understand the shielding characteristics of as‐prepared glass samples.