To obtain highly transparent conductive F-doped SnO2 films by magnetron sputtering at low substrate temperatures, a new method of sputtering high-density SnF2–Sn target in Ar + O2 atmosphere was adopted in the present study. The structural, electrical, and optical properties of the films prepared were investigated as a function of O2 flux. The results indicate that the films shows SnO2 phase only at O2 flux above a critical value (0.8 sccm), and the crystallinity of SnO2 phase is improved with increasing O2 flux. The resistivity of the films steeply decreases once O2 flux is above the critical value, but it greatly increases as O2 flux is too high. Only in intermediate range of O2 flux, the films with low resistivity can be obtained. As O2 flux is above the critical value, both the transmittances in visible light range and Eg of the films show steeply increase, and the PL spectra of the film show distinct emission characteristics. Furthermore, the position and intensity of PL emission peaks are similar when O2 flux is above the critical value, and the emission mechanism can be attributed to electron transitions mediated by defect levels in the bandgap, such as VO and FO. Just because of formation of SnO2 phase in the films and existence of relatively larger amount of VO and FO, the films show low resistivity and high transmittance at suitable O2 fluxes.