Electromagnetic waves can cause different degrees of damage to the human body. People are developing unique nanomaterials with excellent reflection loss (RL), thin thickness, wide frequency band and light weight to improve the absorption efficiency of electromagnetic waves. Using a hydrothermal method, ZnO nanocrystals are combined with graphene oxide (GO). After heat treatment, evenly dispersed ZnO nanocrystals are attached to the GO surface or inserted into the lamellae, and the amount of Zn(CH₃COO)₂·2H₂O and GO is selected to obtain ZnO/RGO nanocomposites with different mass ratios (1 : 1, 1 : 2, 1 : 3). The ZnO/RGO nanocomposites were mixed with paraffin wax with different mass ratios (15, 20, 25, 30 wt%) to explore their electromagnetic parameters and wave absorption properties. It is found that at 25 wt%, ZnO : GO = 3 : 1 and thickness of 3 mm, the sample exhibits excellent wave absorption performance (−36.6 dB) and wide effective absorption bandwidth (6.6 GHz). The microwave absorption performance is enhanced because ZnO nanocrystals inhibit RGO agglomeration and improve impedance matching between the heterostructure interface and RGO.