This paper describes the results of an investigation of modified synthetic protocols to produce monodispersed magnetic ferrite nanoparticles, γ-Fe2O3 and Fe3O4, and their magnetic properties. The synthesis involved thermal decomposition of organometallic precursors followed by oxidation or reduction. In the synthesis of γ-Fe2O3, iron pentacarbonyl was used as the precursor and trimethylamine oxide as the oxidant. In the synthesis of Fe3O4, iron (III) acetylacetonate was reduced by 1, 2-hexadecanediol. The particle sizes ranged from 5–15 nm with high monodispersity. Results from TEM, XPS, and SQUID characterizations of these iron oxide nanoparticles are discussed.