Y2O3:Eu is a promising red-emitting phosphor owing to its high luminance efficiency, chemical stability, and non-toxicity. Although Y2O3:Eu thin films can be prepared by various deposition methods, most of them require high processing temperatures in order to obtain a crystalline structure. In this work, we report on the fabrication of red Y2O3:Eu thin film phosphors and multilayer structure Y2O3:Eu-based electroluminescent devices by atomic layer deposition at 300 °C. The structural and optical properties of the phosphor films were investigated using X-ray diffraction and photoluminescence measurements, respectively, whereas the performance of the fabricated device was evaluated using electroluminescence measurements. X-ray diffraction measurements show a polycrystalline structure of the films whereas photoluminescence shows emission above 570 nm. Red electroluminescent devices with a luminance up to 40 cd/m2 at a driving frequency of 1 kHz and an efficiency of 0.28 Lm/W were achieved.