In this work, we report a one-step method for the preparation of graphene-wrapped zinc oxide (ZnO) nanoparticle (NP) (ZnO@G) hybrids. These hybrids are characterized by transmission electron microscopy, X-ray diffraction, Raman spectroscopy, optical absorption measurements, photoluminescence (PL) emission spectroscopy, and M-H hysteresis measurements. All results reveal that the ZnO NPs are entirely covered with graphene sheets. In the PL spectra, the quenching of the band gap emission and the enhanced green emission serve as evidence of the electron transfer from the ZnO NPs to the graphene layer. The increase of the room-temperature magnetization of the hybrid, compared to pure ZnO NPs, is due to the increasing defect concentration. We suggest a band diagram model that accounts for these observations. We present the simple wet-chemical Synthesis procedure to open a new way for the synthesis of NP-graphene hybrid systems having magnetic properties giving the large manifold potential application.