The NBSAZBDy glasses containing different concentrations (0 ≤ x ≤ 2.0 mol%) of Dy2O3 were prepared by conventional melt quenching method. The concentration effect of Dy2O3 on optical absorption, photoluminescence excitation, emission and luminescence decay was investigated. The Dy2O3 concentration was optimized as 1.0 mol% for proficient luminescence in NBSAZBDy glasses. The optical characterization was carried out using the Judd-Ofelt theory. For NBSAZBDy10 glass, the Judd-Ofelt intensity parameters were determined as Ω2 = 6.15 × 10−20; Ω4 = 2.42 × 10−20 and Ω6 = 1.98 × 10−20 cm2 by least square fit method. These intensity parameters were used to evaluate the radiative parameters such as transition probability rates, branching ratios, radiative lifetimes and stimulated emission cross-sections. The chromaticity coordinates calculated from the emission spectra were located in the white region of CIE diagram. The NBSAZBDy10 glass has potential to generate white light under 378 nm excitation.