Over the past decade, perovskites have received considerable attention because of their record power conversion efficiency (25.7%) in solar cells. These materials have also received recent research interest in thermoelectrics, most likely due to their high carrier mobility, large power factor, and ultralow thermal conductivity. Therefore, in the present work, we have examined the optoelectronic and thermoelectric properties of A2NaIO6 (A = Ca, Sr) double perovskites using first-principles calculations. Stability has been confirmed using reliable and accurate descriptors of formation energy and phonon calculations. The optimized lattice constant and volume show an increasing tendency with changing A site cation (Ca → Sr). The computed band structures depict the semiconducting nature with direct band gap values of 2.64 eV (Ca2NaIO6) and 2.48 eV (Sr2NaIO6). The absorption was found to start in the visible range where the reflectivity was less than 10%. Moreover, the high Seebeck coefficient, large electrical conductivity, and fairly low thermal conductivity result in ZT values of 0.724 for Ca2NaIO6 and 0.686 for Sr2NaIO6 at 1000 K. With their optimum band gap, excellent light absorption capacity, and high ZT values, A2NaIO6 emerge as promising candidates for optoelectronic and thermoelectric applications.