Magnetite, Fe3O4, nanoparticles were synthesized using co-precipitation aqueous method at room temperature and at different pH, from 8 to 12.5. The pH value was found to influence greatly the resulting phases and has no significant effect on the particle size. In all cases, magnetite was found to be the main phase but the contribution of Goethite phase was identified clearly with the increase in pH. Significant reduction in saturation magnetization was evident. Structural and magnetic properties of the nanoparticles were examined using; XRD, TEM, Raman Spectroscopy and SQUID.