Functionally graded thermal barrier coatings (FGTBCs) are functional composites with multilayered structures whose mechanical properties are better than those of conventional ceramic thermal barrier coatings (TBCs). Although many theoretical and experimental studies concerning both the mechanical properties and heat transfer including heat conduction and thermal radiation of TBCs have been conducted, little attention was paid to heat transfer process, especially the coupled conduction-radiation heat transfer, inside FGTBCs. This two-part paper systematically studied the heat transfer inside YSZ/NiCoCrAlY FGTBCs. In Part I, we investigated their radiative properties through experimental measurements. In Part II, we presented a study on the thermal conductivity of FGTBCs and established a coupled heat transfer model. In this paper, more than thirty yttria-stabilized zirconia (YSZ)/NiCoCrAlY duplex TBC and multilayered FGTBC samples with different multilayer structures, porosities and thicknesses were fabricated via air plasma spraying. The transmittance and reflectance spectra within the 0.3-15 mu m wavelength range were experimentally obtained by UV-visible spectrometry and Fourier transform infrared spectroscopy. A scanning electron microscope analysis was carried out to characterize the microstructures of FGTBCs. Additionally, we studied each layer of the FGTBCs individually; the four flux method was employed to obtain the radiative properties based on our experimental measurements. Functionally graded materials (FGM) show larger absorption coefficients and smaller scattering coefficients compared to pure YSZ. The FGTBCs show lower reflectance than YSZ TBCs. We also study the influence of the number of layers on reflectance. The results indicate that FGTBCs have worse thermal insulation ability against radiative flux tconventional ceramic TBCs of the same thickness. This paper provides practical guidance to improve the design of YSZ/NiCoCrAlY FGTBCs and other FGM coatings to reach a balance between good thermal insulation and mechanical strength. (C) 2019 Elsevier Ltd. All rights reserved.