In this study, we carried out an investigation of the etching characteristics (etch rate, and selectivity to $SiO_2$) of $ZrO_2$ thin films in a $CF_4$/Ar inductively coupled plasma (ICP) system. The maximum etch rate of 60.8 nm/min for $ZrO_2$ thin films was obtained at a 20 % $CF_4/(CF_4+Ar)$ gas mixing ratio. At the same time, the etch rate was measured as a function of the etching parameter, namely ICP chamber pressure. X-ray photoelectron spectroscopy (XPS) analysis showed efficient destruction of the oxide bonds by the ion bombardment, as well as an accumulation of low volatile reaction products on the etched surface. Based on these data, the ion-assisted chemical reaction was proposed as the main etch characteristics for the $CF_4$-containing plasmas.