Antimony-doped tin oxide (ATO) is prepared by a co-precipitation method and used as a nano-conducting layer for surface modification of spherical zinc oxide to obtain ZnO@ATO composites with excellent properties. As an anode material for zinc–nickel batteries, ZnO@ATO exhibits superior performance in terms of cycle life and stability, which is attributed to the optimization effect of ATO on the ZnO electrode. ATO increases the conductivity and specific surface area of the anode material, accelerates the electron transfer, and homogenizes the current density on the electrode surface so that the polarization effect in the electrode reaction is effectively suppressed. According to the electrochemical test results, ZnO@ATO as an electrode material still maintains a discharge specific capacity of 561.8 mAh·g–1 after 1950 cycles, which is 96% of the initial discharge specific capacity (583.6 mAh·g–1), demonstrating excellent cycle life and capacity retention.