Holmium-doped congruent-composition lithium niobate (LiNbO3:Ho, LN:Ho) crystals were grown by the Czochralski method. The absorption of the LN:1at% Ho3+ crystal was recorded at room temperature. On the basis of the analysis of emission and absorption spectra of the LN:1at% Ho3+ crystal, the possibilities of obtaining, at room temperature, radiation-balanced (RB) lasing in the region of 640–670 nm wavelengths corresponding to the inter-Stark transitions of manifolds 5F5 and 5I8 was theoretically investigated. The RB lasing parameters were calculated and the optimal pump and laser wavelengths were determined: λOP=652.1 nm, λOL=653.6 nm. The values for the RB lasing efficiency and radiation amplification in the considered wavelength region were obtained: Feff=3.23×10−22cm2, Fgain=6.08×10−22 cm2.