We developed a synthesis method of nanomaterials by the impulse plasma in liquid. The method is based on the low voltage pulsed plasma. The apparatus is very simple and does not require vacuum system, high-energy, cooling system, but can evaporate even refractory metals. Preparation experiments of nanomaterials by using Impulse Plasma in Liquid method were performed. We succeeded in synthesis of nanocrystals of some metals, TiO2, and fullerene C60. The synthesized TiO2 powder consists of fine-dispersed particles of rutile and anatase phases with 5-15 nm grain size. Pure fullerene C60 was prepared by dispersion of graphite electrodes by Impulse Plasma in toluene. It was suggested that the present method can be effectively used for nanomaterials preparation.