ZnO-ZrO mixed oxide (ZnZrO ) catalysts are widely studied as selective catalysts for CO hydrogenation into methanol at high-temperature conditions (300-350 °C) that are preferred for the subsequent zeolite-catalyzed conversion of methanol into hydrocarbons in a tandem process. Zn, a key ingredient of these mixed oxide catalysts, is known to volatilize from ZnO under high-temperature conditions, but little is known about Zn mobility and volatility in mixed oxides. Here, an array of and characterization techniques (scanning electron microscopy/energy dispersive X-ray spectroscopy (SEM/EDX), transmission electron microscopy (TEM), powder X-ray diffraction (PXRD), X-ray absorption spectroscopy (XAS), X-ray photoelectron spectroscopy (XPS), Infrared (IR)) was used to reveal that Zn species are mobile between the solid solution phase with ZrO and segregated and/or embedded ZnO clusters. Upon reductive heat treatments, partially reversible ZnO cluster growth was observed above 250 °C and eventual Zn evaporation above 550 °C. Extensive Zn evaporation leads to catalyst deactivation and methanol selectivity decline in CO hydrogenation. These findings extend the fundamental knowledge of Zn-containing mixed oxide catalysts and are highly relevant for the CO -to-hydrocarbon process optimization.