Thermoelectric $Zn_{4}Sb_3$ alloy powders were synthesized from elemental powders by mechanical alloying process and consolidated by hot pressing under controlled atmosphere. Single phase $Zn_{4}Sb_3$ was not obtained using a nominal stoichiometric composition, but near single phase $Zn_{4}Sb_3$ with remnant elemental Zn having a relatively high density was produced using a nominally 11.7 $at.\%$ Zn rich powders. Phase transformations during mechanical alloying were systematically investigated using XRD and SEM. Thermoelectric and transport properties were evaluated for the hot pressed specimens and compared with results of analogous studies.