Hafnium oxide films were deposited on sapphire and silicon (100) substrates using the DC reactive magnetron sputtering technique from a pure hafnium target at different discharge power levels. The influence of the cathode power on the chemical composition, morphology, crystallographic structure and optical properties of the films was investigated. X-ray diffraction (XRD), energy dispersive X-ray analysis (EDX) and Fourier-transform infrared spectroscopy (FTIR) were employed to determine the chemical composition and bonding structure. In all cases, the films were found to be amorphous or nanocrystalline with increased crystalline content as the sputtering power was increased, according to XRD and FTIR. In addition, EDX showed that the films were oxygen-rich. The effect of power deposition on the surface topography and morphology of the films was studied using atomic force microscopy (AFM) and scanning electron microscopy (SEM). The AFM and SEM images revealed the emergence of mound morphologies as the cathode power was increased. These features are related to blistering effects probably due to the presence of stress and its promotion within the film thickness. Finally, the optical properties showed an average transmission of 80% in the visible range, and the refractive index determined by spectral ellipsometry (SE) was found to be in the range of 1.85–1.92, close to the reported bulk value. SE was also used to study the film porosity observed by SEM, which can be related to the oxygen-rich character of the films.