We report here the structural, optical, photoluminescence (PL), and magnetic investigation of Zn_1-x-yFe_xM_yO nanoparticles. The lattice constants and crystallite size are decreased by Fe, followed by a further decrease up to (Fe+M) = 0.30. A compressive stress is approved and the size of particle is between 180 and 277 nm and follows the sample order of ZnO, (Fe+Cu), (Fe+Ni), and Fe. Although a single value of energy gap (E_g) is found for pure and Fe-doped ZnO, two values of E_g (E_gh and E_gl) are found for the co-doped samples. The E_g is generally increased by Fe, followed by a further increase for the Cu-series, whereas it is decreased for the Ni-series. The refractive indices n_K and n_T proposed by different methods are generally decreased by Fe, followed by a further decrease for both series. Although Fe doped ZnO depressed the density of carriers (N/m^*), it increased again for the co-doped samples. The residual dielectric constant ϵ_L is decreased by Fe, followed by an increase for the Cu-series, but it is decreased for the Ni-series. The loss factor tan δ increases slightly with Fe, followed by an increase for the Ni-series, but it decreases in the Cu-series. A significant depression of optical conductivity σ_opt by Fe was obtained, followed by a further decrease which is higher for the Cu-series. The PL shows four visible emissions. Interestingly, an IR emission at about 825 nm is only obtained for the co-doped samples. Furthermore, the blue emission (I_blue) was higher than UV (I_UV), [(I _blue/I_UV) > 1], but it is greater for the Ni series than the Cu. Although ZnO exhibits diamagnetic behavior, the Fe and co-doped samples exhibit ferromagnetic with higher magnetization for the Ni-series than the Cu. The current results recommend the co-doped samples in nanoscale  for some of advanced devices.