In the present review, new approaches for the stabilization of metastable phases of zinc oxide and the growth of ZnO single crystals under high pressures and high temperatures are considered. The problems of the stabilization of the cubic modification of ZnO as well as solid solutions on its basis are discussed. A thermodynamic approach to the description of zinc oxide melting at high pressures is described which opens up new possibilities for the growth of both undoped and doped (for example, with elements of group V) single crystals of zinc oxide. The possibilities of using high pressure to vary phase and elemental composition in order to create ZnO-based materials are demonstrated.