Zn0.9Mg0.1O nanoparticle (NP) were employed as electron transport layers (ETLs) with varying thicknesses to investigate their influence on the efficiency of the top-emission quantum dot light-emitting diodes (TE-QLEDs) fabricated inside the bank. An increase in the thickness of the Zn0.9Mg0.1O NP ETL led to a decrease in the concentration of oxygen vacancies, reducing the conductivity of the Zn0.9Mg0.1O and resulting in lower current density in the TE-QLEDs. The decrease in conductivity of Zn0.9Mg0.1O NP ETL was confirmed through electron-only device (EOD) characterization. Furthermore, it was noted that when the thickness of Zn0.9Mg0.1O NP ETL was 30 nm, the concentration of hydroxyl species reached its minimum. By minimizing the presence of hydroxyl species, exciton quenching at the quantum dot (QD) and Zn0.9Mg0.1O NP ETL interface was minimized, enhancing charge balance within the QD, significantly improving the efficiency of QLED. We successfully demonstrated that TE-QLED with a 30 nm-thick Zn0.9Mg0.1O NP ETL exhibits outstanding performance, achieving a maximum current efficiency of 91.92 cd/A and a maximum external quantum efficiency of 21.66%. These results suggest that Zn0.9Mg0.1O NP ETL, when tailored to an appropriate thickness, can serve as an ETL for TE-QLEDs, effectively suppressing exciton quenching and enhancing the charge balance in the TE-QLEDs.