Phosphor in glass (PiG) is widely used as a fluorescent conversion material for light emitting diode (LED) device packaging. However, for the PiG with a single refractive index (SRIN) structure, the optical loss is large when light transmits from air through PiG to the packaging material due to large refractive index difference between the interfaces. In addition, the sintering temperature of PiG is high, thus reducing the light conversion efficiency of phosphor. To address the problems above, lead-free B2O3-ZnO-SiO2 matrix glass with gradient refractive index structure matching with yellow phosphor was prepared. Also, B2O3-ZnO-SiO2 system fluorescent glass (phosphor in matrix glass with gradient refractive index structure) was prepared via multi-layer screen printing and low-temperature sintering process. The glass was used in LED packaging to improve the optical performance of LED devices.