Titanium dioxide (TiO2) nanopowders were prepared by laser-induced pyrolysis. Raman scattering showed that prepared TiO2 nanocrystals have anatase TiO2 structure. Specific surface area of the powders varies from 84 to 110 m2/g, while the grain size of nanoparticles is between 30 and 70 nm, depending on preparation conditions. We measured photoluminescence (PL) spectra of TiO2 nanocrystals. Under laser irradiation with photon energy between 2.41 and 2.71 eV the TiO2 nanocrystals displayed strong visible light emission, even at excitation power as low as 0.05 W/cm2. The line shape and position of this broad luminescence band vary with excitation energy. As PL spectra of anatase TiO2 can be attributed to three kinds of physical origins (self-trapped excitons, surface states and oxygen vacancies) in this paper we try to resolve which of them are dominant for different TiO2 nanopowders of different grain size.