The nanoparticles of ZnO have been dispersed in base fluids of poly(ethylene glycol), PEG, and its aqueous solutions. Stability of these nanofluids has been verified with UV-Vis spectroscopy. Dynamic light scattering and size analyze laser methods were used to obtain particle size of the nanofluids investigated. The density, speed of sound and viscosity values for these nanofluids have been measured at T = (293.15, 298.15, 308.15 and 318.15) K. From these experimental data, the excess molar volume, V-m(E) and isentropic compressibility, kappa(s), have been determined. The behaviour of these values with temperature and concentration has been interpreted for clarifying the dispersion of ZnO nanoparticles in PEG and aqueous solution of PEG. The effects of ZnO nanoparticles and temperature have also been investigated on volumetric and transport properties of aqueous solutions of PEG. The V-m(E), was adequately fitted to the Redlich-Kister, Ott et al. and Singh et al. equations. The isentropic compressibility values were correlated with the polynomial equation. The Eyring-NRTL and Eyring-mNRF models have successfully been used for correlating the viscosity values of the nanofluids investigated with temperature dependency considered. The performance of the Einstein, Brinkman, Lundgren and Batchelor models in the prediction of viscosity values of the (ZnO + PEG) nanofluid has also been tested. (C) 2012 Elsevier Ltd. All rights reserved.