The size of quantum dots (QDs), their shape, and ordered arrays have significant impact on electrical and optical properties of the QDs. We synthesized near-infrared-emitting PbSe QDs via an oil phase method in a noncoordinating solvent. Transmission electron microscopy (TEM) and photoluminescence (PL) spectroscopy were used to characterize the samples. Sizes of the QDs were accurately controlled from 4.2 nm to 10.2 nm through control of the reaction time as well as the growth temperature. The PL spectra showed strong size dependence, which is large red shift with increasing size of the QDs.