The rhombohedral distortion-driven occurrence of the spontaneous electric polarization at a reasonably high temperature (T ) and an exchange bias (EB) effect below the antiferromagnetic (AFM) Néel temperature (T N ) are revealed in ZnFe 2 O 4 . We observe the magnetic memory effect, suggesting a cooperative glassy magnetic state below T N . The phase separation between the long-range AFM and the glassy magnetic component leads to the EB effect below T N . The synchrotron diffraction studies confirm a structural transition to a polar R3m structure from the cubic spinel structure, involving a strong rhombohedral distortion. This distortion correlates with the occurrence of the spontaneous electric polarization (P) below ∼110 K (T FE1 ), which is accompanied by a short-range order (SRO). The P-value enhances further due to an additional rhombohedral distortion below T N . A considerable magnetoelectric (ME) coupling is detected below T FE1 . The increase of P is ∼7.2% for 5 T at the liquid nitrogen temperature. There has been a fundamental interest among the community in the unique result of the occurrence of ferroelectric (FE) order coexisting with SRO and having a significant ME coupling, which is accompanied by a strong rhombohedral structural distortion analogous to that observed in BiFeO 3 .