Inverted organic light-emitting devices (OLEDs) have been aggressively developed because of their superiorities such as their high stability, low driving voltage, and low drop of brightness in display applications. The injection of electrons is a critical issue in inverted OLEDs because the ITO cathode has an overly high work function in injecting electrons into the emission layer from the cathode. We synthesized hexagonal wurtzite ZnO nanoparticles using different oxidizing agents for an efficient injection of electrons in the inverted OLEDs. Potassium hydroxide (KOH) and tetramethylammonium hydroxide pentahydrate (TMAH) were used as oxidizing agents for synthesizing ZnO nanoparticles. The band gap, surface defects, surface morphology, surface roughness, and electrical resistivity of the nanoparticles were investigated. The inverted devices with phosphorescent molecules were prepared using the synthesized nanoparticles. The inverted devices with ZnO nanoparticles using TMAH exhibited a lower driving voltage, lower leakage current, and higher maximum external quantum efficiency. The devices with TMAH-based ZnO nanoparticles exhibited the maximum external quantum efficiency of 19.1%.