Y3+/Pr3+ co-doped CaGdAlO4 phosphors were prepared by a self-propagating combustion method in combination with a subsequent heat treatment. The experimental results show that, when Gd3+ is replaced by Y3+, whose ion radius is close to that of Gd3+, the enhanced luminescence intensity of Pr3+ leads to a blue-shift of the maximum position of the absorption peak originating from the 4f-5d transition of Pr3+ from 261 nm to 259 nm. When the optimal concentrations of Y3+ and Pr3+ were determined to be 50% and 0.5%, respectively, Y3+/Pr3+/Yb3+co-doped CaGdAlO4 phosphors were further prepared, and their quantum cutting luminescence from deep ultraviolet to near-infrared was realized. As the Yb3+concentration reaches to 6%, the strongest luminescence of Yb3+ at 980 nm was observed. It is found that the calculated quantum cutting efficiency of Y3+/Pr3+/Yb3+ co-doped CaGdAlO4 phosphors is about 168%, which is higher than that of Pr3+/Yb3+ co-doped CaGdAlO4 phosphors. Moreover, under ultraviolet light (254 nm) irradiation, the strategy of substituting Y for Gd in the CaGdAlO4 host can inhibit the lattice thermalization in a certain extent. In a word, the replacement of Gd by cheap Y can lead to the reduced cost of the phosphors and the improved quantum cutting performance. This study has practical significance for developing and applying silicon space solar cells.