TeO2-BaF2-Er2O3-Dy2O3 laser glasses were prepared using the melt-quenching method. The bound water that can capture the excited state energy was reduced by physical and chemical methods. We did not observe a significant Er3+ emission peak at 2.7 μm in fluorescence spectra, which may be due to the efficient energy transfer process (ET2). Meanwhile, we found a broadband gain span of approximately 400 nm in fluorescence spectra at the 2.85 μm band, attributed to the ‘vector summation’ of the energy level radiation transition and the change of the glass network. Subsequently, we explored the structural properties of the glass. The results indicated that the Gaussian peak located at 250 cm−1 drifts toward 370 cm−1, which may be caused by the fracture or recombination of Te-O-Te and a decrease in the bridge oxygen content with the increasing concentration of Er2O3. The topology cage structure around the luminescence center of rare earth ions is changed and the stability of the optically active center is enhanced, finally contributing to the enhancement of luminescence. Meanwhile, the maximum σemi and gain coefficient of Dy3+ reach up to 7.22 × 10−21 cm2 and 7.37 cm−1, respectively. The comprehensive results show that the fluorotellurite glass designed in this study is expected to be a gain medium for mid-infrared lasers in remote sensing monitoring, military, and other fields.