The work aims to study effects of O2 concentration on morphology, yield and luminosity of ZnO nanostructures in different deposition positions in double-tube tubular furnace. ZnO nano products with different morphology, yield and luminosity were prepared in three different deposition positions in the furnace by chemical vapor deposition (CVD). Morphology, structure and photoluminescence performance were characterized with scanning electron microscopy (SEM), X-ray diffractometer (XRD) and fluorescence spectrophotometer (PL). Lower O2 concentration contributed to the growth of needle-like muti-legs structures, and higher O2 concentration contributed to rod-like muti-legs structures. The deposition reaction of ZnO mainly occurred outside the inner tube when the O2 volume concentration was lower. As O2 volume concentration increased, the deposition products moved toward interior of inner tube, and deposition products near inner pipe orifice increased. The XRD results showed that all the products were hexagonal wurtzite structure. The products preferentially grew along C axis when O2 volume concentration was 0.0625%, and no significant preferred orientation was detected as O2 volume concentration increased. PL results showed that green emission peak was mainly caused by oxygen vacancy as strength ratio of UV emission peak and green emission peak increased as O2 volume concentration increased. Oxygen vacancy decreased as O2 volume concentration increased. ZnO nanostructures with different morphology and luminosity can be prepared by adjusting O2 volume concentration, which can be applied in different fields. In addition, the maximum yield can be obtained in proper deposition position.