In a series of (Ca2–x/2–yEuy□x/2)(Si1–xPx)O4 (x = 0.06, 0.02 ≤ y ≤0.5), various color-emitting phosphors were successfully synthesized by a solid-state reaction. These phosphors were characterized by photoluminescence (PL) spectroscopy, X-ray powder diffractometry, transmission electron microscopy, and X-ray absorption fine structure spectroscopy. We evaluated the effect of heat treatment on PL properties with various annealing temperatures at 1373–1773 K for 4 h before/after reduction treatment from Eu3+ to Eu2+. In the red-emitting (Ca1.95Eu3+0.02□0.03)(Si0.94P0.06)O4+δ phosphor, the highest PL intensity exhibited when it was annealed at 1773 K. On the other hand, in the green-emitting (Ca1.95Eu2+0.02□0.03)(Si0.94P0.06)O4 phosphor, the highest PL intensity was realized when it was annealed at 1473 K and consequently treated under a reductive atmosphere. With increasing annealing temperature, the emission peak wavelength steadily decreased. Furthermore, with increasing Eu2+ content, the emission peak wavelength increased, with the color of emitting light becoming yellowish. Thus, the PL properties of the phosphors were affected by both the structural change from β to α’L, which occurred by heat treatment, and the amount of doped Eu ions.