Magnetite thin fims have been grown epitaxially on ZnO and MgO substrates using molecular beam epitaxy. The film quality was found to be strongly dependent on the oxygen partial pressure during growth. Structural, electronic, and magnetic properties were analyzed utilizing Low Energy Electron Diffraction (LEED), HArd X-ray PhotoElectron Spectroscopy (HAXPES), Magneto Optical Kerr Effect (MOKE), and X-ray Magnetic Circular Dichroism (XMCD). Diffraction patterns show clear indication for growth in the (111) direction on ZnO. Vertical structure analysis by HAXPES depth profiling revealed uniform magnetite thin films on both type of substrates. Both, MOKE and XMCD measurements show in-plane easy magnetization with a reduced magnetic moment in case of the films on ZnO.