Nanostructured cupric oxide (CuO) thin films have been deposited on copper (Cu) substrates at different substrate temperatures and oxygen to argon gas ratios through direct current (DC) reactive magnetron sputtering. The deposited CuO thin films are characterized by using X-ray diffraction (XRD), scanning electron microscopy (SEM), energy dispersive spectroscopy (EDS), profilometry, and spectrophotometry techniques. The crystalline phases, morphology, optical properties, and photothermal conversion efficiency of the CuO thin films are found to be significantly influenced by the change in substrate temperature and oxygen to argon gas ratio. The variations in the substrate temperature and oxygen to argon gas ratio have induced changes in Cu+ and Cu2+ concentrations of the CuO thin films that result in corresponding changes in their optical properties. The CuO thin film prepared at a substrate temperature of 30°C and O2 to Ar gas ratio of 1 : 1 has exhibited high absorptance and low emittance; thus, it could be used as a solar selective absorber in solar thermal gadgets.