Researches on rare earth activated phosphors in solid state lighting and enhancement in efficiency of solar cells pave attention to develop efficient phosphor materials. In the present work, Dy3+ doped NaLaMgTeO6 phosphors are synthesized using solid state reaction method. The structural studies using XRD analysis confirmed the successful formation of the compound. SEM analysis reveals that the particles are closely packed, which in turn exhibit intense luminescence intensity due to low scattering and high packing density. Elemental configuration were analyzed using EDS analysis. FTIR analysis revealed the vibrational bands of the host matrix. Optical energy bandgap was calculated using DRS spectra. The luminescence characteristics of the samples were investigated using excitation and emission spectra. Upon most intense 351 and 388 nm excitation, sharp yellow emission peak at 572 nm dominates blue emission at 478 nm, further reveals that Dy3+ ions occupy low symmetry site in the host lattice. The optimum concentration of Dy3+ in the present host is x = 0.04 mol and concentration quenching is due to dipole-quadrupole interaction of adjacent Dy3+ ions. The thermal quenching phenomenon is studied using temperature dependent photoluminescence analysis. The CIE chromaticity coordinates and CCT values conclude NaLaMgTeO6:Dy3+ phosphors are good candidate for cool near-white light emitting materials for outdoor illumination. The study on solar spectral response and down-conversion property of the synthesized phosphor demonstrate its applicability as solar spectral converters in solar cell applications.