The results show that containerless processing is a unique method to prepare homogeneous rare earth doped bioactive glasses. The obtained Er3+/Yb3+ co-doped glasses show green and red up-conversion luminescence at the excitation of 980 nm laser. The XRD analysis confirmed that calcium silicate powders, as starting materials, were completely transformed from the original multi-crystalline phase (CS-P) into the amorphous-glassy phase (CS-G, EYS, LCS) via containerless processing. The SEM observation combined with EDX and FTIR analyses showed that the as-prepared glasses were bioactive. The cell proliferation assay also revealed that the as-prepared glasses were biocompatible and nontoxic to MC3T3-E1 cells. This study suggests that the luminescent bioactive glasses prepared by containerless processing could be used for studying biodegradation of bone implantation materials.