Hybrid functional calculations reveal the Zn-O divacancy in ZnO, consisting of adjacent Zn and O vacancies, as an electrically active defect exhibiting charge states ranging from 2+ to 2− within the band gap. Notably, the divacancy retains key features of the monovacancies, namely the negative-U behavior of the O vacancy, and the polaronic nature of the Zn vacancy. The thermodynamic chargestate transition levels associated with the negative-U behavior ε(0/2−), ε(−/2−) and ε(0/−) are predicted to occur at 0.22, 0.42 and 0.02 eV below the conduction band minimum, respectively, resulting in U = −0.40 eV. These transition levels are moved closer to the conduction band and the magnitude of U is lowered compared to the values for the O vacancy. Further, the interaction with hydrogen has been explored, where it is shown that the divacancy can accommodate up to three H atoms. The first two H atoms prefer to terminate O dangling bonds at the Zn vacancy, while the geometrical location of the third depends on the Fermi-level position. The calculated electrical properties of the divacancy are in excellent agreement with those reported for the E4 center observed by deep-level transient spectroscopy, challenging the O vacancy as a candidate for this level. arXiv:1905.06210v1 [cond-mat.mtrl-sci] 15 May 2019 1. Electronic and structural properties, and stability