The influence of incorporation of Fe2O3 on the physical, structural, optical, and electrical properties of zinc-samarium phosphate glasses synthesized via conventional melt quenching technique have been studied. The polycrystalline nature, crystallinity percentage, and average size of the developed nanocrystallites in the as-prepared samples have been determined from the obtained X-ray diffraction data. TEM micrographs and SAED patterns confirm the formation of nanocrystallites over the amorphous glassy network. EDX spectra reveal the weight and atomic percentage of each constituent element. Density and molar volume data show inverse relation, which has been explained by the formation of non-bridging oxygens. The optical bandgap energy (Eopt) values, obtained from UV-Vis spectroscopic data, and the calculated Urbach energy (EU) values reduce with increasing Fe2O3 concentration (x). The Fe2O3 concentration (x) dependent refractive index, electronic polarizability, molar refraction, oxide ion polarizability, optical basicity, and electronegativity have been determined. Mott's variable range hopping model is used to explain the DC conduction mechanism, whereas the non-overlapping small polaron tunneling model is used to explain the AC conduction mechanism. Both the AC and DC conductivity are found to increase with the incorporation of Fe2O3. The scaling property of AC conductivity reveals that the conductivity relaxation process depends on the structural composition of the present sample but is independent of temperature.