ZnO-based ceramic varistors have shown excellent electrical and dielectric properties due to their characteristics microstructures represented by the arrangement of their grains and grain boundaries that allow the absorption and flow of energy when subjected to an electrical surge. Their properties and characteristics depend on their chemical compositions and processing routes. Typical processing routes involve several stages of grinding and precalcination—which are time consuming processes. Because of this, this study proposes a simpler and cheaper alternative route for processing ceramic varistors. The alternative process proposed is the mixing of the precursor oxides by means of a hydrothermal treatment. The characteristics and properties of the synthesized ceramic varistors were evaluated by means of scanning electron microscopy, X-ray diffraction and impedance spectroscopy, considering the effect of the addition of rare earth oxides (La2O3, CeO2 and Nd2O3). The results showed that the mixing of the oxides through hydrothermal treatment produces ceramic varistors with characteristics and properties similar to those obtained by other processing routes. Furthermore, it was observed that the addition of rare earth oxides affects the characteristics and properties of the ceramic varistor depending on the type of rare earth oxide added, its concentration and ionic radius.