Novel two-dimensional (2D) materials have received extensive attention in the field of photocatalysis due to their unique properties. Traditional ZnO material with wurtzite structure transforms into a stable graphite-like structure that has the characteristics of 2D material when its thickness is less than a few atomic layers. In this work, using first-principles calculations, we investigated the potential of multilayer graphite-like ZnO as a photocatalyst for water splitting. The results showed that multilayer ZnO is a series of direct bandgap semiconductors, and their band edge positions all straddle the redox potential of water. Increasing with the number of layers, the bandgap of multilayer ZnO decreased from 3.20 eV for one layer to 2.21 eV for six layers, and visible light absorption capacity was significantly enhanced. Hence, multilayer ZnO was indeed promising for photocatalytic water splitting. Furthermore, suitable biaxial tensile strain could decrease the bandgap and maintain the stable graphite-like structure at a broader thickness range. In contrast, excessive biaxial tensile strain could change the redox capacity of multilayer ZnO and prevent it from catalyzing water splitting. Our theoretical results show that six-layer ZnO under 1% biaxial strain had direct bandgap of 2.07 eV and represents the most excellent photocatalytic performance among these multilayer ZnO materials.