A series of 2 at.% Dy3+ and x at.% Eu3+ (x=0,0.1,0.5,1,2,5) codoped NaY(MoO4)2 were synthesized by high-temperature solid-state reaction method. The structure of the samples was characterized by XRD, SEM and FTIR, and it is shownthat the synthesized samples have a tetragonal structure and a space group of I41/a. The excitation spectra and the emission properties under near-UV excitation of the samples were further investigated, and energy resonance transfer between Dy3+ and Eu3+ in NaY(MoO4)2 host was confirmed. The CIE coordinates of 2 at.% Dy3+ and 2 at.% Eu3+ codoped sample(x=0.659,y=0.338) are very close to the standard values specified by NTSC. Therefore, this phosphor is promising for being used as an excellent red phosphor with color rendering performance in solid-state lighting field. In addition, consideringthat NaY(MoO4)2 has the stable physicochemical properties and can be grown by Czochralski method, this study can provide a reference for exploring the single crystal growth and visible laser properties of Dy3+ and Eu3+ co-doped NaY(MoO4)2.