The polycrystalline Eu2+ and Dy3+ co-doped strontium aluminates SrAl2O4: Eu2+,Dy3+ with different compositions were prepared by solid state reactions. The UV-excited photoluminescence, persistent luminescence and thermo-luminescence were studied and compared. Results show that the doped Eu2+ ion in SrAl2O4: Eu2+, Dy3+phosphors works as not only the UV-excited luminescent center but also the persistent luminescent center. The doped Dy3+ ion can hardly yield any luminescence under UV-excitation, but effectively enhance the persistent luminescence and thermo-luminescence of SrAl2O4: Eu2+. Dy3+ co-doping can help form electron traps with appropriate depth due to its suitable electro-negativity, and increase the density and depth of electron traps. Based on above observations, a persistent luminescence mechanism, electron transfer model, is proposed and illustrated.