FeCo nanoparticles with different compositions were prepared by a polyol reduction method and annealed in gas mixtures. All FeCo nanoparticles show large saturation magnetization (over 220 emu/g). The largest saturation magnetization of 273 emu/g was observed in the Fe55Co45 sample. As for Fe48Co52, the impurity phase of CoFe2O4 existed when nanoparticles were annealed at low temperature (200-400 degrees C). While annealed at above 450 degrees C, pure Fe48Co52 nanoparticles with large saturation magnetization of 230 emu/g were obtained. These FeCo nanoparticles with large saturation magnetization have great potential in some industry fields. (C) 2016 Elsevier B.V. All rights reserved.