Heavy metal glasses doped with Tb³⁺ ions have been investigated. Influence of glass-former oxides on the absorption and luminescence properties of terbium ions in inorganic glasses containing lead are discussed. Green emission line located at 543 nm due to ⁵D₄ → ⁷F₅ transition of Tb³⁺ was observed as a most intensive line. Green-to-blue luminescence ratio related to the integrated emission intensity of the ⁵D₄ → ⁷F₅ transition to that of the ⁵D₄ → ⁷F₆ transition was calculated and examined as a function of glass composition. Luminescence lifetimes for the ⁵D₄ excited state of Tb³⁺ ions in heavy metal glasses were also determined. Correlation between green-to-blue luminescence ratios, measured lifetimes and the energy phonon of the glass hosts was proposed.