A rare earth oxyborate crystal K2Nd2O(BO3)2 has been grown by means of high temperature solution method for the first time. It crystallizes in monoclinic P21/c (No. 14) space group, and the lattice parameters are a=11.318(6) Å, b=6.575(4) Å, c=10.689(6) Å, β=117.062(12)°, and Z=4. The absorption spectrum, emission spectrum, and fluorescence lifetime of K2Nd2O(BO3)2 have been evaluated, and the foundational spectral parameters have been analysed according to the Judd‐Ofelt theory. The high concentration of activated ions (1.13×1022 ions/cm3), large absorption coefficient (87.63 cm‐1), long fluorescence lifetime (91.2 μs), and large emission cross section (2.03×10‐20 cm2) of K2Nd2O(BO3)2 suggest its potential applications of microchip lasers.