The structural and optical properties of thin films deposited by DC reactive magnetron co‐sputtering using Zn and Zr targets in argon and oxygen gas mixtures at room temperature are reported. The power applied to the Zr cathode was kept constant, while that applied to the Zn cathode was varied between 0 and 150 W to produce very different ZnxZryOz ternary compounds with Zn/Zr atomic ratios in the range of 0.1–10. The composition, crystalline structure, and optical properties of the samples were determined by EDX, XRD, FTIR, and UV‐visible spectroscopies. The grown films are polycrystalline, and the preferred crystallographic orientation depends on the Zn atomic concentration in the film. The optical transmission in the UV‐visible range is approximately 80% in all cases, and as the Zn atomic content increases, the absorption edge shifts to longer wavelengths. The optical band gap, Eg, shifted from 5.5 to 3.5 eV when the Zn/Zr atomic ratio was increased. The results indicate the potential use of these materials in optoelectronic applications.