The Mg0.27Zn0.73O/ZnO multiple quantum wells with different well width Lw have been grown by pulsed laser deposition method. The interface roughness of quantum wells was inherited from the bottom one and did not exceed 1 nm. The quantum confinement effect has been observed. The exciton binding energy of the two-dimensional Mg0.27Zn0.73O/ZnO structures was two times higher in comparison with the bulk ZnO. A sharp increase of exciton peak intensity in the photoluminescence spectra at well width reduction was observed. The optical excited stimulated emission in quantum wells Mg 0.27Zn0.73O/ZnO with an excitation threshold ~210 kW/cm2 has been demonstrated.© (2010) COPYRIGHT SPIE--The International Society for Optical Engineering. Downloading of the abstract is permitted for personal use only.