Dysprosium oxide-doped glasses with a composition of 60B2O3-10Sb2O3-10Al2O3-10NaF-(10-x) LiF-xDy2O3 (x = 0.1,0.5, 1.0,1.5,2.0,2.5 mol%) were prepared using a conventional melt-quenching technique. The glasses were characterized through various analytical investigations, including X-ray diffraction (XRD), Fourier transform infrared (FTIR) spectroscopy, refractive index, density, optical absorption, excitation, photoluminescence (PL) studies, decay measurements and radiation shielding parameters. The XRD and FT-IR confirms the glassy nature and functional groups present in the titled glass. The absorption spectra were used to determine the oscillator strength of the Dy3+ absorption transitions as well as the bond created with the O-2 ion in the titled glass network. The degree of the suitability of developed glasses for lasing applications was demonstrated by radiative parameters determined using Judd-Ofelt theory. In the prepared glass samples, the optical bandgap measurements indicate the presence of non-bridging oxygen (NBOs), localization of charges and donor centers in the titled glasses. Due to the de-excitation of 4F9/2 to the corresponding 6H15/2,6H13/2 and 6H11/2 states, the PL emission spectrum shows two main strong emissions at blue(480nm), yellow (575nm) and one less emission at red (663nm). The CIE coordinates determined using PL emission spectra reveal the coordinates that are falling within the white light region. Various shielding parameters such as mass attenuation coefficient, mean free path, effective atomic number were estimated to understand the radiative shielding nature of the titled glasses. Within the addition of Dy2O3, it was found that the shielding parameters values of the titled glass samples are increasing. The Mass Attenuation Coefficient, Half Value Layer and Mean Free Path of the as prepared glasses has been compared with different types of concretes to understand the shielding effectiveness of prepared glass.