We demonstrate a facile synthesis of monodisperse magnetite (Fe3O4) nanoparticles (NPs) via a simple wet chemical route at 180 degrees C using oleylamine (C18H37N), which serves as a solvent, ligand, and surfactant. The particles have a narrow size distribution centered at about 10nm. To provide better electron conductivity and structural stability, the as-synthesized particles are given a carbon nanocoating by pyrolysis of the residual surfactant on their surface. This pyrolysis forms a uniform thin nanocoating on each particle, and a core/shell Fe3O4/carbon NP network was thus obtained. The core/shell Fe3O4/carbon electrode shows better reversible capacity, cycle life, and rate capability than a bare Fe3O4 NP electrode because of its efficient electron transport and stress relaxation provided by the thin carbon layer.