We studied the electronic and optical properties of pure and Eu-doped CdSe phosphor materials using the first-principles calculation method, which is a feature of Density Functional Theory. The FP-LAPW method was employed for the study as incorporated in the Wien2k code. The GGA + U + SOC method of DFT was used for the first time in our study to investigate the electronic as well as optical characteristics of Eu-doped CdSe materials. Eu doping was done in two different ratios to study the effects of altered dopant concentration. The doping increased the band gap of the pure CdSe parental material. The calculated band gaps in our study were 0.42 eV for pure CdSe, 0.67 eV for a single Eu atom doped in CdSe, and 1.64 eV for two Eu atoms doped in CdSe. The measured electronic and optical characteristics of undoped i.e, pure CdSe and Eu-doped CdSe showed that the doping significantly changed the optical behavior of CdSe, which may be useful for applications in phosphor-converted LEDs.