Undoped and (Mn, Al) co-doped Zinc Oxide nanoparticles are synthesized by chemical co-precipitation method at room temperature effectively via poly ethylene glycol (PEG) as stabilizing agent. XRD data reveals that all the concentrations acquire hexagonal wurtzite crystal structure with no secondary peaks concerning to Al or Mn, indicating successful dissolution of Al and Mn in to ZnO host lattice. The exact particle size is estimated using TEM illustrations, which is confirmed through the XRD results. EDS spectrum shows, no impurities are present in the samples other than manganese and aluminum. The absorption spectra of all the samples reveal characteristic absorption edge in the vicinity of 375 nm. PL spectra show that all the concentrations include defect associated peaks in the visible region. VSM measurements reveal the ferromagnetic nature for co-doped samples. Copyright © VBRI Press.