A new series of Tb 3+ -doped and Tb 3+ /Eu 3+codoped K 0.3 Bi 0.7 F 2.4 nanoparticles were rapidly synthesized at low temperature. Upon near-ultraviolet light excitation, the Tb 3+doped K 0.3 Bi 0.7 F 2.4 nanoparticles emit Tb 3+ ions' emission and the intensity is sensitive to the Tb 3+ ion concentration, in which the optimal doping content is 9 mol %. Moreover, under 376 nm irradiation, dazzling color-tunable (i.e., from green to yellow and finally to red) emissions are gained in the Tb 3+ /Eu 3+ -codoped K 0.3 Bi 0.7 F 2.4 nanoparticles with the increasing Eu 3+ ion content owing to the efficient energy transfer (ET) between Tb 3+ and Eu 3+ ions. Through theoretical analysis based on the recorded emission spectra and decay time, one knows that the ET in the resultant nanoparticle is efficient and its mechanism is dominated by dipole−dipole interaction. Furthermore, the internal and external quantum efficiencies of the final products are as high as 50.8 and 15.5%, respectively. Aside from the satisfactory photoluminescent behaviors, the developed nanoparticles also exhibit splendid thermal stability, in which the activation energies of Tb 3+ and Eu 3+ ions in the selected host are 0.26 and 0.23 eV, respectively. Additionally, via the use of the resultant nanoparticles acting as yellowemitting components, we packaged a white-light-emitting diode (LED), which is able to emit glaring white light with an appropriate corrected color temperature (5854 K) and high color-rendering index (90.1). These findings imply that Tb 3+ /Eu 3+ -codoped K 0.3 Bi 0.7 F 2.4 nanoparticles may serve as potential multicolor-emitting converters for white-LED applications.