Nanosized Fe based powders have been synthesized by both chemical vapor condensation (CVC) and plasma arc discharge (PAD) processes. Fe, Fe-C and Fe-N nanopowders were successfully synthesized. The influence of experimental parameters on microstructures and phase composition of nanopowders was investigated. The prepared powders were nearly spherical in shape and core-shell type in structure. Various kinds of Fe-C and Fe-N composite nanopowders could be synthesized by controlling the carrier gas and precursor decomposition temperature, etc.