We report deep level transient spectroscopy results from ZnO layers grown on silicon by molecular beam epitaxy (MBE). The hot probe measurements reveal mixed conductivity in the as-grown ZnO layers, and the current-voltage (I-V ) measurements demonstrate a good quality p-type Schottky device. A new deep acceptor level is observed in the ZnO layer having activation energy of 0.49±0.03 eV and capture cross-section of 8.57×10 −18 cm 2 . Based on the results from Raman spectroscopy, photoluminescence, and secondary ion mass spectroscopy (SIMS) of the ZnO layer, the observed acceptor trap level is tentatively attributed to a nitrogen-zinc vacancy complex in ZnO.