The work aims to investigate the regulation and performance of rare earth upconversion luminescence from the perspective of enhancing luminescence intensity, and review the anti-counterfeiting applications of rare earth luminescent materials, so as to provide reference for the functionalization of upconversion and packaging materials. Relevant literature in recent years was reviewed to introduce the luminescence mechanism, luminescence performance and regulation of upconversion nanoparticles and the research progress of printing technology of optical materials. Rare earth luminescent materials exhibited satisfactory luminescent properties. However, with the reduction of particle size, nanoparticles had problems of low luminous efficiency and quantum yield. The luminous efficiency of luminescent materials could be significantly enhanced by means of surface passivation of nanoparticles, surface plasma coupling, combination with organic complexes and external field adjustment. These materials could be printed into various anti-counterfeiting patterns by inkjet printing, screen printing, nano-imprint lithography and aerosol spray printing technology, which made them have great potential in optical anti-counterfeiting, information storage and marking, thus become promising functional packaging materials. Driven by optical material synthesis technology, optical regulation and printing technology, rare earth doped upconversion luminescent nanomaterials are expected to contribute to the functional packaging and anti-counterfeiting due to their special optical characteristics.