A series of Fe2O3- doped oxyfluoroborate 75B2O3– 20NaF–5BaO glasses ( Fe2O3 = 0, 2, 4, and 6 mol) were synthesized using the conventional melt-quenching method. The effect of Fe2O3 on the physical, structural, and elastic characteristics of synthesized glass samples has been studied. The non-crystalline characteristics of the prepared glass samples were validated through XRD analysis, while their structural properties were examined using FTIR spectroscopy. Elastic properties were investigated through the measurement of longitudinal and shear ultrasonic velocities, employing the pulse-echo technique. The observed density and computed molar volume were determined to be influenced by the content of Fe2O3. The ultrasonic velocities, elastic moduli, micro-hardness, and Debye temperature exhibited similar behavior across all glass compositions, showing an increase with increasing Fe2O3 content. The findings are analyzed concerning the alteration in the topology of the borate network. The incorporation of Fe2O3 led to the transformation of BO3 structural groups into BO4 structural groups, enhancing the network connectivity and increasing the rigidity of the glass structure and elastic moduli. A variety of compositional parameters, including the average separation between boron ions, mean atomic volume, glass packing density, dissociation energy per unit volume, and excess molar volume, were assessed in concerning Fe2O3 content. These parameters were then correlated with the elastic properties, drawing on established models and theories within the discipline. The theoretical elastic moduli, micro-hardness, and Poisson's ratio values were ultimately calculated and compared with the experimental ones.