Magneto-optic studies of ZnO doped with transition metals Co, Mn, V, and Ti indicate a significant magnetic circular dichroism (MCD) at the ZnO band edge at room temperature, together with an associated dispersive Faraday rotation. Similar spectra occur for each dopant, which implies that the ferromagnetism is an intrinsic property of the bulk ZnO lattice. At 10 K, additional paramagnetic contributions to the MCD are observed, but above about 150 K, the magnitude of the MCD signal is dominated by the ferromagnetism and is almost temperature independent. The MCD at the ZnO band edge shows room temperature hysteretic behavior.