Pr3+,Yb3+ activated SrF2 nanoparticles synthesized by low-temperature hydrothermal method were studied. The composition and size of nanoparticles were intentionally changed by controlling synthesis conditions. After structural and morphological characterization, the spectroscopic properties of the nanoparticles were analyzed in the visible and near infrared spectra ranges. The results show correlation between the gradual change of the amount of carboxylate and hydroxyl moieties on the nanoparticle surface, varied by the size nanoparticles and the quenching of the luminescence. The size-related amount of surface quenchers is strongly connected to the decrease of the downconversion efficiency.