In this study, sol-gel derived Zn_1-xMg_xO (ZMO) is proposed as an electron transport layer (ETL) for solution-processed quantum-dot light-emitting diodes (QLEDs). It is demonstrated that the increase of Mg content in Zn_1-xMg_xO films from 0% to 20% causes a dramatic suppression of electron current, which is attributed to the lifting of conduction band minimum and reduction of electron mobility. As a result of Mg-doping, the charge carrier balance might be achieved in the QLED with the Zn_0.85Mg_0.15O layer resulting in maximum external quantum efficiency of 5.74% and current efficiency of 18 cd A⁻¹, which are over 3-fold higher than in the case of the device with ZnO layer. Improved device performance is further explained by reduced exciton quenching at QDs/ZMO interface, which is confirmed by time-resolved PL experiments. Obtained results indicate that sol-gel derived ZMO is a promising candidate for ETL in quantum-dot based optoelectronic devices.