Lithium borate glass and dysprosium (Dy3+) ions are tissue-equivalent materials for radiation dosimetry due to their effective atomic numbers, which closely resemble those of human tissue and light emission properties of Dy3+ ions. Lithium borate glasses with compositions \((50-x{)Li}_{2}O: 50{B}_{2}{O}_{3}\) : \(x{Dy}_{2}{O}_{3}\) (where \(x=\) 0.1, 0.2, 0.5, 0.7, and 1 mol %), labeled as LBD1, and ( \(100-y) {B}_{2}{O}_{3 }:(y-0.5){Li}_{2}O\) :0.5 \({Dy}_{2}{O}_{3}\) (where \(y=\) 30, 40, 45, 50, 55 mol %), labeled as LBD2, were fabricated using the melt-quench method. The properties analyzed include structural, X-ray and proton-induced luminescence, optical, photoluminescence (PL), and thermoluminescence (TL). XRD spectra confirmed amorphous structure with broad humps and no sharp peaks. X-ray luminescence shows two highest peaks at 575 nm and 484 nm due to the 4F9/2 →6H13/2 and 4F9/2 → 6H15/2 transition, respectively. PL excitation spectra show seven peaks from Dy3+ due to 4f–4f transitions, with emission spectra at 484 nm (blue) and 575 nm (yellow). LBD1 glass, doped with 0.5 mol% Dy2O3, exhibits highest intensity in both X-ray luminescence and PL measurements. The proton-induced spectrum exhibits peak around 450–500 nm and 550–600 nm. The PL intensity increases under 349 nm laser excitation. Optical band-gap energies decrease with increasing concentrations of Dy3+ ions. After X-ray irradiation, the samples exhibit high-intensity TL peaks around 137–187 °C measured from 10 min to 48 h post-irradiation. These findings emphasize the distinctive features of dysprosium-doped lithium borate glasses, making them valuable for various purposes, particularly in photonics, laser, radiation detection, and dosimetry.