The realization of tunable multicolor luminescence especially full‐spectrum white‐light emission in a single matrix has aroused more attention from researchers. To address the above challenge, Bi3+, and Tb3+ are selected as both activators and sensitizers with the help of energy level matching engineering of Bi3+ and Tb3+ having matching energy levels with Eu3+, a series of 1D Y4Al2O9:Bi3+, Bi3+/Eu3+, Tb3+, Tb3+/Eu3+ and Bi3+/Tb3+/Eu3+ nanofibers (NFs) are designed and synthesized by a simple electrospinning technique combined with an oxidative calcination. Under 298‐nm UV light excitation, Y4Al2O9:Bi3+/Tb3+/Eu3+ NFs demonstrate tunable multicolor luminescence (blue, purple, red, green, yellow, and white) especially full‐spectrum white‐light emission via double energy transfer (ET) effect and modulation of molar ratio among Bi3+, Tb3+ and Eu3+. Additionally, Y4Al2O9:3%Bi3+/7%Tb3+/1%Eu3+ NFs are sensitive to temperature, and the maximum Sα and Sγ values of Y4Al2O9:3%Bi3+/7%Tb3+/1%Eu3+ NFs reach 0.0417 K−1 and 0.84% K−1, respectively. In virtue of electrospinning, triple activators (Bi3+, Tb3+, and Eu3+) are readily and uniformly doped in Y4Al2O9 NFs single matrix to achieve dual function of tunable multicolor luminescence and temperature sensing. The formation principle and luminescence theory of the samples are clarified. The findings in this work are instructive to develop multicolor luminescent phosphors and temperature‐sensing materials.