The electrical properties of (40−x)ZnO-xFe2O3-60P2O5 (x = 10, 20, 30 mol%) glasses were measured by impedance spectroscopy in the frequency from 0.01 Hz to 4 MHz and the temperature range from 303 to 473 K. It was shown that the dc conductivity strongly depends on the Fe2O3 content and Fe(II)/Fetot ratio. The increase in dc conductivity for these glasses is attributed to the increase in Fe2O3 content from 10 to 30 mol%. With increasing Fe(II) ion content from 6% to 17% the dc conductivity increases. This indicated that the conductivity arises mainly from polaron hopping between Fe(II) and Fe(III) ions suggesting an electron conduction in these glasses. By applying scaling on conductivity data measured at different temperatures, single master curve was obtained for each glass. On the other hand, deviation from the master curve at high frequencies was observed for glasses with different compositions. This deviation originates from a various mobility of charge carriers in different glass structures. Raman spectra showed the change of structure, from metaphosphate to pyrophosphate, with increasing Fe2O3 content from 10 to 30 mol%.