In this study, nickel nanoparticles were synthesized in ethanol using portable pulsed wire evaporation, which is a one-step physical method. From transmission electron microscopy images, it was found that the Ni nanoparticles exhibited a spherical shape with an average diameter of 7.3 nm. To prevent aggregation of the nickel nanoparticles, a polymer surfactant was added into the ethanol before the synthesis of nickel nanoparticles, and adsorbed on the freshly synthesized nickel nanoparticles during the wire explosion. The dispersion stability of the prepared nickel nanofluids was investigated by zeta-potential analyzer and Turbiscan optical analyzer. As a result, the optimum concentration of polymer surfactant to be added was suggested for the maximized dispersion stability of the nickel nanofluids.