The thermoelectric properties of Nb-doped Zn4Sb3 compounds, (Zn1–xNbx)4Sb3 (x = 0, 0.005, and 0.01), were investigated at temperatures ranging from 300 to 685 K. The results showed that by substituting Zn with Nb, the thermal conductivities of all the Nb-doped compounds were lower than that of the pristine β-Zn4Sb3. Among the compounds studied, the lightly substituted (Zn0.995Nb0.005)4Sb3 compound exhibited the best thermoelectric performance due to the improvement in both its electrical resistivity and thermal conductivity. Its figure of merit, ZT, was greater than the undoped Zn4Sb3 compound for the temperature range investigated. In particular, the ZT of (Zn0.995Nb0.005)4Sb3 reached a value of 1.1 at 680 K, which was 69% greater than that of the undoped Zn4Sb3 obtained in this study.