Monodispersed cerium oxide nanoparticle has been synthesized by microwave-mediated hydrothermal as well as microwave-mediated solvothermal synthesis. X-ray diffraction (XRD) data shows that the synthesized particles are single phase. SEM and TEM analysis suggest that particle synthesized by microwave-mediated solvothermal method are less agglomerated. In vitro toxicology study of the synthesized nanoceria particles has shown good free radical scavenging activity for NO and 1,1-diphenyl-2-picrylhydrazyl (DPPH) radical assayed except superoxide radical within a concentration range of 25 to 75 ng ml(-1). Nanoceria particle also showed inhibition of Fe-ascorbate-induced lipid peroxidation (LPx) in chick liver mitochondrial fractions. Solvothermally synthesized nanoceria showed better protection against Fe-ascorbate-induced LPx than the hydrothermal one while the hydrothermally synthesized nanoceria showed better DPPH and NO scavenging activity. The ceria nanoparticles also prevented Fe-ascorbate-H2O2-induced carbonylation of bovine serum albumin in a dose-dependent manner. At higher concentration, i.e., 100 ng ml(-1), the synthesized nanoparticles showed a reverse trend in all the parameters measured indicating its toxicity at higher doses.