The phase composition and thermoelectric properties of a β-Zn4Sb3 based material before and after thermocycling tests at 273–723 K have been studied. Specimens with stoichiometric Zn and Sb molar ratios and with additions of different excess Zn quantities have been synthesized by direct component smelting followed by spark plasma sintering. The phase composition and structure of the materials have been studied using X-ray diffraction and transmission electron microscopy. The thermal conductivity and specific heat of the materials have been measured with laser flash and differential scanning calorimetry techniques. The phase composition of the as-synthesized, as-sintered and as-thermocycled Zn4+xSb3 thermoelectric material has been found to vary depending on excess Zn content in the charge. Excess Zn has been shown to dissolve in the β-Zn4Sb3phase upon spark plasma sintering and thermocycling. β-Zn4+xSb3 solid solution depletion of interstitial zinc atoms or ZnSb phase precipitation upon thermocycling increase the thermal conductivity and reduce the thermoelectric efficiency of the material. The Zn4.1Sb3 composition has shown high thermoelectric efficiency, the 715 K ZT being ∼1.23 and 1.18 before and after thermocycling, respectively.