Long-term transformer oil usage deteriorates the thermal and dielectric properties of the oil. The main aim of our work is to find a suitable replacement for mineral oil with superior characteristics. Titanium Oxide (TiO 2), Zinc Oxide (ZnO), and Aluminum Oxide (Al 2 O 3) Nano Particles (NPs) are used inside the virgin mineral oil to form Nano Fluids (NFs). NFs are subjected to accelerated multi-aging (thermal and electrical) for 1000 hours. The special aging chamber is designed to apply electrical and thermal stresses to the oil under consideration. Thermal and dielectric characteristics of the NFs are determined using breakdown voltage, water content, tan delta, flash point, viscosity, and pour point tests. The aforementioned tests are conducted before and after the accelerated aging of the samples. Thermal and dielectric characteristics of ZnO based NFs are found superior to other NPs. ZnO NPs show the highest breakdown voltage and minimum values of water content, tan delta, pour point, and viscosity. The highest value of flash point confirmed the superiority of ZnO NF over other NFs even after accelerated multi-aging. Therefore, the experimental analysis concluded that ZnO based NFs possess remarkably good thermal and dielectric properties as a replacement of mineral oil in the transformer operation. INDEX TERMS Mineral oil, multi-aging, ZnO, aluminium oxide, titanium oxide, nickel oxide, dissipation factor.