In the present paper, iron oxide nanoparticles coated by oleic acid have been synthesized in different conditions by coprecipitation method. For investigating the effect of time spent on adding the oleic acid to the precursor solution, two different processes have been considered. The as synthesized samples were characterized by X-ray diffraction (XRD), transmission electron microscopy (TEM) and Fourier transform infrared spectroscopy (FT-IR). Magnetic measurement was carried out at room temperature using a vibrating sample magnetometer (VSM). The results show that the magnetic nanoparticles decorated with oleic acid decreased the saturation of magnetization. From the data, it can also be concluded that the magnetization of Fe3O4/oleic acid nanoparticles depends on synthesis conditions.