Magnetic properties of LaCoO3 nanoparticles prepared by a sol-gel method with average particle size (D) ranging from 20 to 500 nm are investigated. All samples exhibit obvious ferromagnetic transition. With decreasing particle size from 500 to 120 nm, the transition temperature Tc decreases slightly from 85 K, however Tc decreases dramatically when D ≤ 85 nm. Low-field magnetic moment at 10 K decreases with reduction of particle size, while the high-field magnetization exhibits a converse behavior, which is different with previous reports. The coercivity Hc decreases as the particle size is reduced. It is different with other nanosystems that no exchange bias effect is observed in nanosized LaCoO3 particles. These interesting results arise from the surface effect induced by sized effect and the structure change in LaCoO3 nanoparticles.