The different concentration of Ho3+/Yb3+ codoped tellurite glasses were prepared by high-temperature melting-quenching method. On excitation of Ho3+ ions with blue photon at 449 nm as well as ultraviolet (UV) photon at 360 nm, the near infrared emission at 977 nm from Yb3+ and 981, 1020 nm from Ho3+, which could be absorbed by silicon and enhance the efficiency of the silicon-based solar cell, were observed. The energy-transfer process of Ho3+ and Yb3+ ions and involved mechanism have been investigated and discussed. The first-order energy transfer (ET) through cross relaxation and a back ET from Yb3+ to Ho3+ occurred in the near-infrared quantum cutting (NIR QC) system are proposed and verified. The NIR quantum efficiency achieved 166% when Yb3+ doping concentration is 20 mol%.