The surface modification of inorganic nanoparticles by polymer grafting is generally required for obtaining well dispersed polymer‐based (bio)nanocomposites, and the in situ polymerization of corresponding monomers is considered to be a versatile approach to this purpose. In this work, the microwave‐assisted ring‐opening polymerization of d,l‐lactide in the presence of zinc oxide (ZnO) nanoparticles affords an original and straightforward method for generating ZnO‐graft‐poly(d,l‐lactide) hybrid systems. The influence of ZnO particle size and concentration on polymerization kinetics and molar masses of free poly(d,l‐lactide) (PLA) chains is analyzed. Several physico‐chemical techniques, including proton nuclear magnetic resonance (1H NMR), Fourier‐transform infrared spectroscopy, X‐ray photoelectron spectroscopy, and thermogravimetric analysis, are used to characterize intermediates and/or reaction products. Taking into account the kinetic and spectroscopic investigation, competitive chemical pathways based on grafting from and grafting onto reactions are proposed for the one‐pot formation of PLA‐grafted ZnO nanoparticles.