Zinc oxide (ZnO) nanoparticles have shown great potential because of their versatile and promising applications in different fields, including solar cells. Various methods of synthesizing ZnO materials have been reported. In this work, controlled synthesis of ZnO nanoparticles was achieved via a simple, cost-effective, and facile synthetic method. Using transmittance spectra and film thickness of ZnO, the optical band gap energies were calculated. For as-synthesized and annealed ZnO films, the bandgap energies were found to be 3.40 eV and 3.30 eV, respectively. The nature of the optical transition indicates that the material is a direct bandgap semiconductor. Spectroscopic ellipsometry (SE) analysis was used to extract dielectric functions where the onset of optical absorption of ZnO was observed at lower photon energy due to annealing of the nanoparticle film. Similarly, X-ray diffraction (XRD) and scanning electron microscopy (SEM) data revealed that the material is pure and crystalline in nature, with the average crystallite size of ~9 nm.