In this paper, ZnO varistors with high voltage gradient, which were doped with 0.75 mol% Y2O3 and different ratio of Bi2O3, were prepared by classic ceramic fabricating method. The obtained samples were degraded under accelerated AC aging stresses of 0.85 V1mA /135°C/168 h. The electrical properties and Schottky barrier parameters of these samples before and after the aging tests were measured and compared. The leakage current obviously increases after the aging test and the aging rate increases with the Bi2O3 content, too. Meanwhile, the linearity of these samples reduces after the aging test and the variation rate increases as the Bi2O3 doping ratio increased. The decrease of the donor density and the interface state density after aging leads to the decrease of barrier height.