A series of Li+, Bi3+ co-doped Lu2O3∶Ho3+ phosphors are prepared by the high temperature solid-state method. The research results show that the doping of Li+, Bi3+ and Ho3+ with different mole fractions does not change the cubic phase structure of Lu2O3. Compared with that of Lu2O3∶ 2%Ho3+ sample, the luminescence intensities of the three kinds of samples doped with 16%Li+, 1.5%Bi3+, 2%Li+/1.5%Bi3+ increase by 3.0, 128.9, 1.4 times, respectively. However, the fluorescence lifetimes of these three kinds of samples under the excitation of a laser with a wavelength of 449 nm are shortened by different degrees.