The synthesis and characterization of a series of Tb(III) complexes with 6-methyl-4-oxo-4H-1-benzopyran-3-carboxaldehyde (L) and ancillary ligands bathophenanthroline, 1,10-phenanthroline, and 2,2’-bipyridine are presented. Extensive spectral analyses, including FTIR, UV–visible, and photoluminescence studies, confirmed the coordination between the Tb(III) ions and the ligands. All complexes exhibited intense green luminescence, characterized by sharp emission at 546 nm (5D4 → 7F5). Among the complexes, the [Tb(L)3.Bipy] complex showed the highest quantum yield (61.71%) and the longest luminescence decay lifetime (0.634 ms), highlighting the importance of optimized ancillary ligands in suppressing non-radiative decay pathways. The complexes also displayed semiconducting optical band gaps (2.57–2.71 eV) and high refractive indices (2.11–2.14), further supporting their potential for optoelectronic applications. Thermal analysis indicated enhanced stability, while chromaticity measurements demonstrated excellent color purity, establishing these complexes as promising candidates for advanced photonic devices and green light-emitting technologies.