ZnO varistor ceramics which were fabricated with variation of added of 0.5～1.0 mol% Co$_3$O$_4$, were sintered at 1150 $^{circ}C$. In the specimen added 0.7 mol% Co$_3$O$_4$, sintered density was 6.03 g/㎤ and electrical properties were superior to any other compositions. The nonlinear coefficient a and clamping voltage ratio were 83 and 1.35, respectively. But, endurance surge current in the specimen added 0.5 mol% Co$_3$O$_4$ was 7000 A/$ extrm{cm}^2$, and deviation of varistor voltage was Δ-3.23 %. As P.C.T and T.C.T environmental test were succeed in all specimens, and deviation of varistor voltage in the specimen added 0.6 mol% Co$_3$O$_4$ was Δ-0.81 %. All specimens showed good leakage current property on the High Temperature Continuous Load Test(HTCLT) for 1000 hr at 85 $^{circ}C$ and variation rate of the varistor voltage below Δ-2.0 %.