Topological constraint theory (TCT) and molecular dynamics simulations (MD) are utilized to study the effect of Y2O3/SiO2 substitution on the short‐ and medium‐range structures and properties in aluminosilicate glasses containing Y2O3. Experimental methods have been applied to characterize the structures of the as‐prepared glasses to verify the accuracy of MD simulations. It was found that the Y–O bond distance is around 2.38 Å and the Y average coordination number is around 5.78. The introduction of Y2O3 disrupts the Si–O and Al–O bonds in the network structure and elevates the proportion of non‐bridging oxygen. Meanwhile, the calculation results of Si–O and Al–O bond distances show Y shortens the distance between Si, Al cations and oxygen ions, improving the network structure tightness. Furthermore, the glass transition temperature (Tg), Vickers hardness (HV), and elastic modulus (E) of glass increase with the increase of Y2O3 content, while the viscosity decreases. TCT was used to analyze the relationship among glass compositions, structures, and properties, and the properties prediction models for Tg, HV, and E were established. The effectiveness of TCT prediction models was proved by the comparison between the results predicted by the models and the data reported in the literature.