The study on the optical properties of alkali borate glasses doped with rare earths is an interesting area of research. Dysporosium doped lithium magnesium borate glasses were prepared by melt-quenching technique with dysporosium concentration varying from 0.3 to 1.0 mol %. Physical and optical properties of Lithium Magnesium Borate doped with different concentration of Dy were observed based on its physical parameters, emission spectra and absorption spectra. The absorption spectra of this study exhibits eight absorption bands with hypersensitive peak at 1260 nm ( H). Two emitted spectra transitions were also observed at F → H, F → H. Lastly, important physical parameters for each concentration of dopant such as density, ions concentration, polaron radius, inter-nuclear distance, refractive index, oscillator strength and other parameters were determined.