The glass-forming region in the ternary system TeO2–ZnO–MoO3 was investigated at two melt cooling rates. The achieved molybdenum trioxide content in the glass reached up to 80 mol. % with varying TeO? and ZnO ratios. The phase composition of the batch and the resulting glass under thermal treatment was studied using X-ray diffraction analysis. Within the temperature range of 20…300 °C, no significant interaction was observed between the initial binary oxides. However, upon further heating, complex oxide phases of tellurium (IV), zinc, and molybdenum (VI) (Te?MoO?, Zn?Te?O?, ZnMoO?, and ZnTeMoO?) were formed. The formation of these compounds was also observed during the induced crystallization of the glasses. Transmission spectra of the glass samples were recorded, revealing a redshift of the short-wavelength transmission edge with increasing molybdenum trioxide content.