A series of highly Er^(3+)/Yb^(3+) co-doped fluoroaluminate glasses have been investigated in order to develop a microchip laser at 1.54 μm under 980 nm excitation. Measurements of absorption, emission and up-conversion spectra have been performed to examine the effect of Er^(3+)/Yb^(3+) concentration quenching on spectroscopic properties. In the glasses with Er^(3+) concentrations below 10 mol%, concentration quenching is very low and the Er^(3+)/Yb^(3+) co-doped fluoroaluminate glasses have stronger fluorescence of 1.54 μm due to the ^(4)I_(13/2)-->^(4)I_(15/2) transition than that of Er^(3+) singly-doped glasses. As Er^(3+) concentrations above 10 mol% in the Er^(3+)/Yb^(3+) co-doped samples, concentration quenching of 1.54 μm does obviously occur as a result of the back energy transfer from Er^(3+) to Yb^(3+). To obtain the highest emission efficiency at 1.54 μm, the optimum doping-concentration ratio of Er^(3+)/Yb^(3+) was found to be approximately 1:1 in mol fraction when the Er^(3+) concentration is less than 10 mol%.