Preheat the Oven: Preheat your oven to 350°F (175°C). Grease and flour two 8x4-inch loaf pans or line them with parchment paper.
Grate the Zucchini: Grate the zucchini using a box grater or food processor. If the zucchini is very watery, squeeze out some of the moisture with a clean kitchen towel.
Beat the Eggs: In a large bowl, beat the 3 eggs until light and fluffy.
Add Sugar: Mix in 1 cup of white sugar and 1 cup of brown sugar until well combined.
Incorporate Oil and Vanilla: Slowly mix in 1 cup of vegetable oil (or 1/2 cup oil and 1/2 cup applesauce) and 3 teaspoons of vanilla extract until smooth.
Mix Dry Ingredients: In a separate bowl, whisk together 3 cups of all-purpose flour, 1 teaspoon of nutmeg, 3 teaspoons of ground cinnamon, 1 teaspoon of salt, 1 teaspoon of baking powder, and 1 teaspoon of baking soda.
Combine Wet and Dry Ingredients: Gradually add the dry ingredients to the wet mixture, stirring just until combined.
Add Zucchini and Nuts: Gently fold in 2 cups of grated zucchini and 1 cup of chopped walnuts (if using) until evenly distributed.
Pour Batter into Pans: Divide the batter evenly between the prepared loaf pans.
Bake: Bake in the preheated oven for 50 to 60 minutes, or until a toothpick inserted into the center of the loaves comes out clean.
Cool: Allow the loaves to cool in the pans for about 10 minutes, then transfer them to a wire rack to cool completely.
Slice and Serve: Once the zucchini bread has cooled, slice and enjoy!
Storage: Store any leftovers in an airtight container at room temperature for up to 3 days, or freeze for longer storage.