Pb2+ doped CaMoO4∶Dy3+,Eu3+ phosphors were synthesized by coprecipitation method. The phase composition, luminescence characteristics and energy transfer efficiency between activated ions were characterized and analyzed by X-ray diffractometer and fluorescence spectrophotometer. The results show that the CaMoO4∶Dy3+,Eu3+doped with Pb2+ phosphor samples have no new diffraction peaks compared with the undoped phosphor samples. The above shows that Pb2+ is a good substitute for Ca2+ enters into the crystal lattice. The unit cell parameters are a=b=0.548 9 nm, c=1.275 3 nm, Z=2 belongs to the tetragonal crystal system for CaMoO4∶0.05Dy3+,0.15Eu3+,0.15Pb2+ phosphor. Under the excitation of 391 nm wavelength, it can be seen that 484 nm blue light emission peak attributes to Dy3+(4F9/2→6H15/2), 575 nm is the yellow light emission peak produced by Dy3+ (4F9/2→6H13/2) transition, 593 nm is the orange light emission peak produced by Eu3+ (5D0→7F1) transition, and 619 nm is the red light emission peak produced by Eu3+ (5D0→7F2) transition. The critical transfer distance between Dy3+ and Eu3+ in CaMoO4∶Dy3+,Eu3+ phosphors can be obtained by calculation, which is 1.542 6 nm. The energy transfer mechanism is dipole-quadrupole interaction, the energy transfer efficiency is close to 60.31%, and the maximum sample energy transfer efficiency increases to 72.40% for Pb2+ doped phosphor. Therefore, it is concluded that doping with Pb2+ can greatly increase the energy transfer efficiency between Dy3+ and Eu3+ and improve the luminous performance of phosphors, so it has important research significance in the field of white LEDs.