A green light-emitting glass and the method of preparing the same are provided. The components with parts by mole of the green light-emitting glass are alkali oxide 25-40, Y2O3 0.01-15, SiO2 40-70, Tb2O3 0.01-15. The method of preparing the glass includes mixing alkali salt with Y2O3, SiO2 and Tb4O7, firing the mixture at 1200° C.-1500° C. for 1-5 hours, cooling the precursor to the room temperature and annealing the precursor in a reducing atmosphere at 600° C.-1200° C. for 1-20 hours. A green light-emitting glass with good transparence, high uniformity, easily being made into big bulk and high stability is provided. The process of capsulation of parts by using the glass is simple. And a method of preparing the glass with simple process and low cost is provided.