Abstract Rare earth‐doped glasses have attracted extensive attention due to their excellent luminescent property. It is of great significance for the development of optical functional glass to obtain unique luminescent properties through glass structural regulation. Here, via structural optimization, multicolor luminescent borosilicate glasses with dual luminescence centers (Ce 3 ⁺ ions and oxygen vacancy defect) are obtained. Leveraging the distinct luminescent traits of these two centers, tunable luminescence colors ranging from purple to orange–red are achieved by varying the excitation wavelength and temperature. Under X‐ray excitation, the glasses exhibit one of the highest scintillation luminescence intensities (85.69% of Bi 4 Ge 3 O 12 crystal) among the Ce 3+ ‐doped glasses reported in recent years, and the imaging resolution (11 LP mm −1 ) is comparable to CsI:Tl crystal. Capitalizing on their multicolor luminescence characteristics and excellent scintillation performance, a 3D optical anti‐counterfeiting scheme and an X‐ray imaging model are developed, demonstrating promising practical applications. After being stored under ambient conditions for two years, the luminescent intensity retains more than 98% of its initial value, underscoring the exceptional luminescence stability of the glass. This work not only presents a multifunctional material for high‐level anti‐counterfeiting and X‐ray imaging but also provides insights into borosilicate glass design.