Bi-layered zinc oxide (ZnO) and bismuth substituted yttrium iron garnet (Bi:YIG) was fabricated and magneto-optically investigated. Enhancement of Faraday rotation and magnetic circular dichroism (MCD) was observed. The wavelength of MCD enhancement was in good agreement with exciton wavelength of ZnO. This enhancement was only observed in the bi-layer, and implies that the exciton generated in ZnO interacted with Bi:YIG. Because the exciton wavelength of ZnO can be controlled by electro-optic effect, this result has the potential for realizing voltage control of magneto-optic effect.