Novel Eu3+-doped Na5Zn2Gd(MoO4)6 triple molybdate phosphors were fabricated by the sol-gel method. The structure, morphology, and luminescent properties have been characterized by X-ray diffraction (XRD), thermogravimetric differential thermal analysis (TG-DTA), scanning electron microscopy (SEM), FTIR spectroscopy, and luminescence spectroscopy. The results indicated that the synthesized Na5Zn2Gd1−x(MoO4)6: xEu3+ phosphor consisted of a pure phase with monoclinic structure. Under excitation at 465 nm, the Na5Zn2Gd1−x(MoO4)6: xEu3+ phosphor exhibits an intensive red emission band around 610 nm corresponding to the transition of 5D0→7F2 which is much higher than that 5D0→7F1 at 594 nm, which was appropriate for a blue LED. According to the influence of the synthesis conditions, the phosphors showed the highest emission intensity when the doping concentration of Eu3+ was 25 mol.% and the molar ratio of citric acid to metal ions was 2:1. Na5Zn2Gd0.75(MoO4)6: 0.25 Eu3+ with the color coordinates (x = 0.658, y = 0.341) is a more stable red phosphor for blue-based white LEDs than the commercial Y2O2S: Eu3+ red phosphor (0.48, 0.50) due to its being closer to the NTSC standard values (0.670, 0.330).