Electrochemical-based biosensors have the potential to be a fast, label-free, simple approach to detecting the effects of cytotoxic substances in liquid media. In the work presented here, a cell-based electrochemical biosensor was developed and evaluated to detect the cytotoxic effects of Zn2+ ions in a solution as a reference test chemical. A549 cells were attached to the surface of stainless-steel electrodes. After treatment with ZnCl2, the morphological changes of the cells and, ultimately, their death and detachment from the electrode surface as cytotoxic effects were detected through changes in the electrical signal. Electrochemical cell-based impedance spectroscopy (ECIS) measurements were conducted with cytotoxicity tests and microscopic observation to investigate the behavior of the A549 cells. As expected, the Zn2+ ions caused changes in cell confluency and spreading, which were checked by light microscopy, while the cell morphology and attachment pattern were explored by scanning electron microscopy (SEM). The ECIS measurements confirmed the ability of the biosensor to detect the effects of Zn2+ ions on A549 cells attached to the low-cost stainless-steel surfaces and its potential for use as an inexpensive detector for a broad range of chemicals and nanomaterials in their cytotoxic concentrations.