Na2O-SiO2-ZrO2 glasses doped with V2O5 were prepared with the melt quenching method, and were then analyzed using various techniques; in particular, with X-ray diffraction (XRD), energy dispersive spectroscopy (EDS), and optical absorption, photoluminescence, electron spin resonance (ESR), and Fourier transform infrared (FT-IR) transmission spectroscopy. The obtained results indicate that, in the studied glasses, vanadyl complexes tend to undergo a reduction from V5+ ions to V4+ ions. XRD and EDS data suggest that the glasses have amorphous nature with randomly distributed grains within the glass matrix. The optical absorption spectra show two transitions: 2B2g→2B1g and 2B2g→2Eg. The photoluminescence spectra exhibit a broad band from 750-900 nm, indicating the 2E→2T2 transition of vanadyl ions. The energies of the band gaps decreased gradually with increasing V2O5 content. The ESR spectra suggest that V4+ ions are situated in octahedral sites with tetragonal compression. The FT-IR spectra confirm the presence of various structural units within the glasses. Finally, the dielectric properties of the glasses were also measured, showing that the dielectric constant (ε′) and the loss tangent (tan δ) increase as the content of vanadium ions increases, indicating presence of V4+ ions within the glass matrix.