The effect of titanium dioxide (TiO2) on the properties of color conversion glasses was examined for glasses based on BaO-ZnO-B2O3-SiO2. One glass sample, containing 25 mol% of each component, was used as a reference; the other three glass samples contained 1, 3, and 5 mol% TiO2, respectively. The four color conversion glass samples were prepared by sintering a mixture of glass frits and a YAG:Ce+ phosphor. The characteristics of the color conversion glass samples, such as luminous efficacy, luminance, CIE (Commission International de I'Eclairage) chromaticity, CCT (Correlated Color Temperature), and CRI (Color Rendering Index) were analyzed according to the PL spectrum. The refractive index of the glass samples was found to increase with the titanium dioxide content. In conclusion, luminous efficacy of color conversion glasses increased as the content of TiO2 was raised in the glass matrix.