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This paper presents the first demonstration and comparison of two identical oscillator circuits employing piezoelectric zinc oxide (ZnO) microelectromechanical systems (MEMS) resonators, implemented on conventional printed-circuit-board (PCB) and three-dimensional (3D)-printed acrylonitrile butadiene styrene (ABS) substrates. Both oscillators operate simultaneously at dual frequencies (260 MHz and 437 MHz) without the need for additional circuitry. The MEMS resonators, fabricated on silicon-on-insulator (SOI) wafers, exhibit high-quality factors (Q), ensuring superior phase noise performance. Experimental results indicate that the oscillator packaged using 3D-printed chip-carrier assembly achieves a 2–3 dB improvement in phase noise compared to the PCB-based oscillator, attributed to the ABS substrate’s lower dielectric loss and reduced parasitic effects at radio frequency (RF). Specifically, phase noise values between −84 and −77 dBc/Hz at 1 kHz offset and a noise floor of −163 dBc/Hz at far-from-carrier offset were achieved. Additionally, the 3D-printed ABS-based oscillator delivers notably higher output power (4.575 dBm at 260 MHz and 0.147 dBm at 437 MHz). To facilitate modular characterization, advanced packaging techniques leveraging precise 3D-printed encapsulation with sub-100 μm lateral interconnects were employed. These ensured robust packaging integrity without compromising oscillator performance. Furthermore, a comparison between two transistor technologies—a silicon germanium (SiGe) heterojunction bipolar transistor (HBT) and an enhancement-mode pseudomorphic high-electron-mobility transistor (E-pHEMT)—demonstrated that SiGe HBT transistors provide superior phase noise characteristics at close-to-carrier offset frequencies, with a significant 11 dB improvement observed at 1 kHz offset. These results highlight the promising potential of 3D-printed chip-carrier packaging techniques in high-performance MEMS oscillator applications.