A series of glasses having the composition x%As2O3·(80−x)%V2O5·20%FeO with (25 ≤ x ≤ 45) is prepared by the melt quenching technique. Complete amorphous nature of the glasses is confirmed from the XRD results. The density values are found to increase with increasing the concentration of the As2O3 in the samples, while the molar volume and the oxygen ion density values decrease with increasing the ratios of the As2O3 in the samples. The calculated values of optical basicity decreases with increasing the %As2O3 in the glasses, and the refractive index of the studied glasses is found to be around 1.8. The calculated average single bond strength values suggest that the ionic character is dominant between the bonds formed in the glass structure. The investigated glasses are probably good candidates for nonlinear optical applications as confirmed from the electronic polarizability and 3rd order nonlinear susceptibility χ(3) calculations. Several types of bonds and groups formed within the glass matrix are investigated and confirmed from the FTIR spectroscopy measurement. Thermal characteristics and glass stability are investigated by the DSC measurement. Activation energy for glass transition and crystallization as well as many other kinetic characteristics are studied.