A facile reduction approach with nickel acetylacetonate, Ni(acac)(2), and sodium borohydride or superhydride leads to monodisperse nickel nanoparticles in the presence of hexadecylarnine (HDA) and trioctylphosphine oxide (TOPO). The combination of HDA and TOPO used in the conventional synthesis of semiconductor nanocrystals also provides better control over particle growth in the metal nanoparticle synthesis. The size of Ni nanoparticles can be readily tuned from 3 to 11 nm, depending on the ratio of HDA to TOPO in the reaction system. As-synthesized Ni nanoparticles have a cubic structure as characterized by power X-ray diffraction (XRD), selected-area electron diffraction (SAED). Transmission electron microscopy (TEM) images show that Ni nanoparticles have narrow size distribution. SQUID magnetometry was also used in the characterization of Ni nanoparticles. The synthetic procedure can be extended to the preparation of high quality metal or alloy nanoparticles. (C) 2004 Elsevier B.V. All rights reserved.