Luminescent ions-doped dual-phase nanoglasses are a new kind of photonic materials for cutting-edge research developed in the past ten years. They are obtained via in situ crystallization or external nanocrystals (NCs) doping in glasses. The remarkable feature of such kinds of materials is that there are two different kinds of NCs in the glass matrix such as fluoride (YF₃), oxide (Ga₂O₃), perovskite (CsPbBr₃), or noble-metal NCs. They exhibit both advantages of glasses (inertness, robustness, and ease of manufacture) and crystals (optical functions). Thus, they have a wide range of applications in solid-state lighting, display, laser, communication, optical data storage, sensing, etc. In this study, we review the research progress of dual-phase nanoglasses according to their specific applications in photoluminescence (PL) regulation, which can be classified into three classes: 1) controlling energy-transfer processes by adjusting the spacing of luminescent ions; 2) providing multiple crystal-field environments to broaden PL emission band; and 3) modifying local electromagnetic field enhancement factors and density of optical states to enhance PL emission intensity. However, a comprehensive review of the typical application of dual-phase nanoglasses is presented as a high-precision optical temperature measurement using multiple-mode PL emissions. Finally, we have suggested the problems or obstacles encountered in present-day research and future development directions.