Magnetic, compositional and morphological properties of Zn-Fe-oxide core-shell bimagnetic nanoparticles (MNPs) were studied for three samples with 0.00, 0.06 and 0.10 Zn/Fe ratios, as obtained from Particle-Induced X-ray Emission analysis. The bimagnetic nanoparticles were produced in one step synthesis by the thermal decomposition of the respective acetylacetonates. The nanoparticles present an average particle size between 25-30 nm as inferred from Transmission Electron Microscopy (TEM). High-Resolution TEM images clearly show core-shell morphology for the particles in all samples. The core is composed by an antiferromagnetic (AFM) phase with Wüstite (Fe 1-y O) structure, while the shell is composed by Zn x Fe 3-x O 4 ferrimagnetic (FiM) spinel phase. Despite the low solubility of the Zn in the Wüstite, Electron energy-loss spectroscopy (EELS) analysis indicates that the Zn is distributed almost homogeneously in the whole nanoparticle. This result gives information on the formation mechanisms of the particle, indicating that the Wüstite is formed firstly, and the superficial oxidation results in the FiM ferrite phase with similar Zn concentration than the core. Magnetization and in-field Mössbauer spectroscopy of the Zn-richest nanoparticles indicate that the AFM phase is strongly coupled to the FiM structure of the ferrite shell, resulting in a bias field (H EB) appearing below T N FeO , with H EB values that depends on the core-shell relative proportion. Magnetic characterization also indicates a strong magnetic frustration for the samples with higher Zn concentration, even at low temperatures.