The phosphor converted white light emitting diodes (pc-WLEDs) are advancing rapidly in replacing the conventional fluorescent and incandescent light sources. However, the current technology of pc-WLEDs limits their large scale indoor lighting applications due to their high correlated color temperature (CCT) and poor color rendering index (CRI). In this work, a single phased full color emitting phosphor in the pyrochlore oxide system, La2Y0.66Sn0.66Sb0.66O7: Bi3+, Eu3+ has been developed by the high temperature ceramic route. The developed phosphors are characterized by powder X-ray diffraction, luminescence and lifetime measurements. Upon near UV excitation wavelength, the singly doped phosphor, La2Y0.66Sn0.66Sb0.66O7: Bi3+ show intense blue green light in the wavelength region 400–600 nm due to the characteristic transitions (3P1 → 1S0) of Bi3+. The emission spectral analysis suggests that there exist two luminescence centers of Bi3+ due to occupation of different crystallographic sites in the pyrochlore lattice of La2Y0.66Sn0.66Sb0.66O7. The deficit of red component in the emission spectra is overcome by the Eu3+ co-doping in the system, La2Y0.66Sn0.66Sb0.66O7: Bi3+, Eu3+ which results in the full color emission covering the visible spectral range up to 700 nm with broad peaks along with sharp narrow characteristic peaks of Eu3+. The full color emission of the La2Y0.66Sn0.66Sb0.66O7: 0.04Bi3+, yEu3+ phosphors can be tuned by adjusting the suitable Eu3+ dopant concentration and using appropriate energy transfer from Bi3+ to Eu3+. The full color emitting phosphor, La2Y0.66Sn0.66Sb0.66O7:0.04Bi3+, 0.06Eu3+ can be realized with the color coordinates (0.30, 0.36), and correlated color temperature (4383K). All these results demonstrate that La2Y0.66Sn0.66Sb0.66O7:xBi3+, yEu3+ are potential single phased full color emitting phosphors for the development of pc-WLEDs.