Novel transparent oxyfluoride glass-ceramics containing KYb2F7:Ho3+ nanocrystals were successfully elaborated by melt-quenching technique with further thermal treatment for the first time. Their structural and luminescent properties were investigated systemically by XRD, HRTEM, absorption spectra, upconversion spectra, and lifetime measurements. Under 980 nm laser excitation, all samples exhibited characteristic emissions of Ho3+. Attractively, the upconversion emissions of Ho3+, especially green and near-infrared emissions, were enormously enhanced 190 times after crystallization. The incorporation of Ho3+ into KYb2F7 nanocrystals with lower phonon energy was responsible for this phenomenon. Our research may enrich the understanding of fluoride-nanocrystals-based transparent oxyfluoride glassceramics.