Strontium metaborate (SrB2O4) is a suitable material for use as a matrix for luminescent dopant ions. Similarity of ionic radii of strontium and divalent europium makes it an excellent host for Eu dopant. This paper reports on the Czochralski growth and spectroscopic study of SrB2O4 single crystals doped with europium and co-doped with europium and potassium. Based on recorded luminescence spectra it was found that both Eu3+ and Eu2+ ions occur in this host. Trivalent europium ions give rise to a narrow band long-lived red luminescence that is not affected by incorporation of potassium ions. Divalent europium ions emit a UV-blue luminescence, consisting of a large spectral band centered at ca 430 nm. In the absence of potassium ions the decay of this luminescence deviates slightly from a single exponential time dependence with a mean lifetime value of 2.0 ns. In potassium-co-doped sample a strong deviation from a single exponential decay was observed for longer stages of decay, beginning at ca 2.5 ns. This phenomenon was attributed to dissimilarity of relaxation rates of a fraction of europium ions distributed in different lattice sites that are distorted by the presence of big potassium ions. By co-doping the host with alkali ions one can influence the oxidation state of europium ions thereby enhancing the emission of trivalent europium ions. It was concluded that the material under study is a promising phosphor for visible light emission applications. (C) 2016 Elsevier B.V. All rights reserved.