Сomposite films containing II-VI based semiconductor nanoparticles have been prepared by different physical and chemical techniques. Non-magnetic CdS1-xSex nanoparticles were grown by melting of the semiconductor doped fine powder borosilicate glass. The composite semimagnetic semiconductor Cd1-xMnxTe based films were fabricated by embedding in SiO2 matrix with using of pulsed laser deposition technique. New chemical approach to synthesis of Cd1-xMnxS nanoparticles in polymer matrix has been proposed. The optical absorption edge for CdS1-xSex , Cd1-xMnxTe nanoparticles and exciton structure in the spectrum of Cd1-xMnxS nanoparticles shifted to the higher-energy side compared to those for bulk crystals due to the quantum confinement effect. Magneto-optical Faraday effect for non-magnetic semiconductor nanoparticles in glass demonstrates only small changes as compared with that of bulk semiconductors. The revealed peculiarities in spectral and magnetic field dependences of the Faraday rotation for the studied semimagnetic semiconductor composite films can be attributed to the influence of dimensionality on spin exchange parameters for such kind of nanostructures.