The ferrimagnetic spinel oxide ZnxFe3−xO4 combines high Curie temperature and spin polarization with tunable electrical and magnetic properties, making it a promising functional material for spintronic devices. We have grown epitaxial ZnxFe3−xO4 thin films (0 ≤ x ≤ 0.9) on MgO(001) substrates with excellent structural properties both in pure Ar atmosphere and an Ar/O2 mixture by laser molecular beam epitaxy and systematically studied their structural, magnetotransport and magnetic properties. We find that the electrical conductivity and the saturation magnetization can be tuned over a wide range (10 2 . . . 10 4 Ω −1 m −1 and 1.0 . . . 3.2 µB/f.u. at room temperature) by Zn substitution and/or finite oxygen partial pressure during growth. Our extensive characterization of the films provides a clear picture of the underlying physics of the spinel ferrimagnet ZnxFe3−xO4 with antiparallel Fe moments on the A and B sublattice: (i) Zn substitution removes both Fe 3+ A moments from the A sublattice and itinerant charge carriers from the B sublattice, (ii) growth in finite oxygen partial pressure generates Fe vacancies on the B sublattice also removing itinerant charge carriers, and (iii) application of both Zn substitution and excess oxygen results in a compensation effect as Zn substitution partially removes the Fe vacancies. Both electrical conduction and magnetism is determined by the density and hopping amplitude of the itinerant charge carriers on the B sublattice, providing electrical conduction and ferromagnetic double exchange between the mixed-valent Fe