Yb3+-Ho3+ co-doped germanium-phosphate glasses have been prepared and characterized for its optical properties through measuring photoluminescence and Raman spectra. UV-visible up-conversion emission of holmium ion in Yb3+-Ho3+ co-doped germanium-phosphate glasses has been observed on 980nm excitation. As phosphate was substituted for germanium the red emission Red I decreased at first and then increased later while the green emission Green I decreased and the ratio of Red I to Green I increased. Interestingly, the value of ultraviolet emission intensity was larger than that of the blue and green emission intensity in phosphate glass sample. We believe that Yb3+-Ho3+ co-doped germanium-phosphate glasses might be a potential host material for developing ultraviolet all–solid compact lasers. The possible excitation mechanisms involved in these emissions were discussed, too.