ZnO is an II-VI compound semiconductor possessing wide, direct bandgap (3.37 eV) and high excitonic binding energy (60 meV) even at room temperature. High crystalline ZnO nanostructures show distinctive characteristics in light emission, particularly in lasing applications. Here, in this work, rare earth doping in ZnO was carried out to enhance its photoluminescence property. Pure, 2 mol% Dy doped, 2 mol% Gd doped and 1 mol% Dy and Gd co-doped ZnO nanoparticles were synthesized via easy combustion technique. The synthesized nanoparticles were characterized by X-ray diffraction, Fourier Transform Infra Red Spectroscope, Field Emission Scanning Electron Microscope, High Resolution Transmission Electron Microscope, Diffuse Reflectance Spectroscope and Photoluminescence. Enhancement of Photoluminescence in 1 mol% Dy and Gd co-doped ZnO nanoparticles is observed.