Yb³⁺-doped fluorophosphate glasses were prepared by melt-quenching technique and characterized their spectroscopic properties to assess the laser performance parameters. The magnitude of absorption (emission) crosssections at 975 nm for all the studied Yb³⁺-doped glasses is found to be in the range of 0.29–1.50 X 10^-20 (0.59–1.99 X 10^-20 cm²) which is much higher than those of commercial Kigre QX/Yb: 1.06 X 10^-20 (0.5 X 10^-20 cm²) laser glass. The luminescence lifetimes of 2F5/2 level decrease (1.15–0.45 ms) with increase in Yb₂O₃ concentration (0.1–4.0 mol%). Effect of OH^- content on luminescence properties of Yb³⁺ ions has also been investigated. The effect of radiative trapping has been discussed by using McCumber (McC) and Fuchtbauer– Ladenburge (F–L) methods. The product of experimental lifetimes and emission cross-sections for 0.1 mol% Yb₂O₃- doped glass is found to be 2.28 X 10^-20 cm² ms which indicates that the higher energy storage and extraction capability could be possible. The detailed spectroscopic results suggest that the studied glasses can be considered for high-power and ultrashort pulse laser applications.