YVO4:Eu3+ nanoparticles were prepared via pulsed laser ablation in water and sodium dodecyl sulfate solution. The particle phase, morphology, and optical properties were evaluated by XRD, TEM, SEM, and PL. Ovoid-like nanoparticles having an average diameter of 97 nm were prepared in water, whereas nearly spherical nanoparticles with an average diameter of 55 nm were obtained in sodium dodecyl sulfate solution. The photoluminescence properties of the YVO4:Eu3+ nanoparticles were affected by the defects in the nanoparticles, as demonstrated by HR-TEM and recovered after annealing at 600 °C for 24 h. Fourier transform infrared spectroscopy revealed that the surfaces of the nanoparticles obtained in sodium dodecyl sulfate solution were covered by surfactant molecules, leading to smaller nanoparticles. These results also provide contributions for the synthesis of oxide nanoparticles in the domain of laser ablation in liquid as single-phase YVO4 was obtained in this study.