The combination of wide-band gap semiconductors such as zinc oxide (ZnO) and graphene quantum dots (GQDs) is a promising strategy to tune the optoelectronic properties of GQDs and develop new functionalities. Here we report on a theoretical design of not-yet-synthesized hybrid materials composed of ZnO clusters surrounded by carbon moieties, hereinafter referred to as ZnO-embedded graphene quantum dots. Their structure and light absorption properties are presented, with an in-depth analysis of the nature of the photoexcited states. The stability of the (ZnO)nC96-2n system with n = 1, 3, 4, 7, 12 and 27 is investigated by performing vibrational mode analysis and estimating cohesive energy and zinc vacancy formation energy. A strong dependence of the structural and optoelectronic properties of the hybrid material on the amount of ZnO pairs is revealed and discussed. Strong light absorption and unexpected enhancement of Raman modes related to the vibrations in carbon moiety are observed for the highly symmetric (ZnO)27C42 system that makes it an ideal study subject. Complementary excited state analysis, charge density difference (CDD) analysis and interfragment charge transfer analysis present insights deep into the nature of the excited states. An equal contribution of doubly degenerate locally excited states and charge transfer states in broadband light absorption by (ZnO)27C42 is identified. The present results are helpful to elucidate the nature of the fundamental internal mechanisms underlying light absorption in ZnO-embedded graphene quantum dots, thereby providing a scientific background for future experimental study of low-dimensional metal-oxygen-carbon material family.