The nanopowders (NPs) ZnO-Zn-Fe and ZnO-Fe with the various concentrations of Fe (xFe) (0≤xFe≤0.619mass.%) were prepared by the pulsed electron beam evaporation method. The influence of doping Fe on structural and magnetic properties of NPs was investigated. X-ray diffraction showed that powders contain fine-crystalline and coarse-crystalline ZnO fractions with wurtzite structure and an amorphous component. Secondary phases were not found. The magnetic measurements made at room temperature, using the vibration magnetometer and Faraday’s scales, showed ferromagnetic behavior for all powders. Magnetization growth of NPs ZnO-Zn and ZnO-Zn-Fe was detected after their short-term annealing on air at temperatures of 300–500°C. The growth of magnetization is connected with the increase in the concentration of the phase ZnO with a defective structure as the result of oxidation nanoparticles (NPles) of Zn. The scanning transmission electron microscopy (STEM) showed a lack of Fe clusters and uniform distribution of atoms dopant in the initial powder ZnO-Zn-Fe. A lack of logical correlation between magnetization and concentration of a magnetic dopant of Fe in powders is shown.