Eu3+-doped Cd1−x Zn x S (0 ≤ x ≤ 0.5) quantum dots (QDs) have been synthesized using wet chemical precipitation method. X-ray diffraction and transmission electron microscope have been used for the crystallographic and morphological characterization of synthesized nanomaterials. In order to understand the spectral characteristics of doped QDs, N2-laser induced time resolved spectra have been recorded. Excited state lifetime values for dichromatic emission (red and violet) attributed to 5D0 → 7FJ (J = 1, 2) transitions of Eu3+ and host lattice transitions have been calculated from the recorded luminescence decay curves. Decay time dependence on the dopant concentration (0.01–10 at. wt% of Cd2+) has been studied in detail.