Tm³⁺-Yb³⁺ codoped transparent oxyfluoride glass ceramics containing LaF₃ nanocrystals were obtained by thermal treatment on the asmade glasses. The formation of LaF₃ nanocrystals and the incorporation of Tm³⁺ and Yb³⁺ into LaF₃ nanocrystal lattice were confirmed by X-ray diffraction and high resolution transmission electron microscopy. Infrared quantum cutting involving Yb³⁺ 950–1100 nm (²F_5/2→²F_7/2) emission was achieved upon the excitation of the ¹G₄ energy level of Tm³⁺ at 468 nm. We measured the photoluminescence properties of these glass ceramics. We also investigated the thermal treatment duration dependent quantum efficiency, and found that the quantum efficiency is 13% increased for the 0.5Tm³⁺-4Yb³⁺ doped glass ceramic with a maximum value of 144%, and 16% increased for the 0.5Tm³⁺-8Yb³⁺ doped glass ceramic with a maximum value of 162%, respectively.