Nd3+/Ho3+ co-doped SiO2-Al2O3-Na2CO3-SrF2-CaF2-Ho2O3-Nd2O3 oxyfluorosilicate glasses have been prepared by high temperature melt-quenching method. The co-doped samples exhibit fluorescence bands centered at 892, 1058, 1330 nm and 2.0 mu m under the excitation of 808 nm laser diode (LD). The energy transfer mechanism between Nd3+ and Ho3+ was analyzed based on the absorption, emission and the energy level structures of Nd3+ and Ho3+ ions. In the present investigation, the energy transfer efficiency from Nd3+ to Ho3+ reached similar to 50% under the excitation of 808 nm. This result indicates that Nd3+ ions can be potentially used as sensitizers for Ho3+ ions to stimulate the NIR emissions. Stimulated emission cross-section was evaluated for the prominent I-5(7 )-> I-5(8) transition of Ho3+ ion by using the Mc-Cumber theory. The spectroscopic characteristics of Nd3+/Ho3+ co-doped oxyfluorosilicate glasses are found to be suitable as optical medium for mid infrared emission at similar to 2.0 mu m.