The main objective described in this paper is the optimization of technological parameters in the production of varistors based on recycled zinc oxide (ZnO). The content of this paper builds on our previous research aimed at proving that hydrometallurgically recovered ZnO material, from electric arc furnace dust, is suitable for applications in these semiconductors, an issue which has received very little attention at present. The focus of this research also corresponds to and supports the visions and strategies of environmental sustainability and the circular economy. Samples of ZnO varistors manufactured for this purpose were analyzed by scanning electron microscopy and then the electrical parameters were measured and calculated. Based on the results of the microstructural analysis and electrical properties, prerequisites for the optimal adjustment of technological parameters such as sintering temperature and sintering time were derived, which will be the starting point for further research.