The synthesis of nickel nanoparticles by the hydrazine reduction of nickel chloride in ethylene glycol was studied. The formation of nickel nanoparticles was completed within an hour at temperatures between 60°C and 100°C. X-ray diffraction revealed the resultant particles were pure nickel with a face-centered cubic (fcc) structure. Their diameter was 21.5 nm. Magnetic measurements using a SQUID magnetometer showed that the synthesized particles were ferromagnetic, with a remanent magnetization and coercivity of 8.45 emu/g, and 150 Oe, respectively. The cytotoxicity and transport of these particles in the human colon cancer cell line Caco-2 will be studied to assess their potential in cancer treatment.