Ti-peroxy compound was synthesized from Ti(O-iPr)4 and H2O2. Anatase and rutile TiO2 nanoparticles were prepared by heating the Ti-peroxy compound diluted with a polyol aqueous solution at 368 K for 24 h. In this research, ethylene glycol, glycerin, erythritol, and D-mannitol were used as polyols in the diluting solution. The ratio of anatase/rutile of the TiO2 obtained depended on the polyol concentration in the diluting solution. Furthermore, the polyol concentration at which single-phase anatase could be obtained was lowest when the number of OH groups in the polyol molecule was the highest. With increasing polyol concentration, the obtained TiO2 nanoparticles showed increasing specific surface area and decreasing particle size.