Armando D. Urbina1+, Hari Sridhara1+, Alexis Scholtz2+, Andrea M. Armani1,2,3 *1- Mork Family Department of Chemical Engineering and Materials Science, University of Southern California, Los Angeles, CA 90089, USA2- Alfred E. Mann Department of Biomedical Engineering, University of Southern California, Los Angeles, CA 90089, USA3- Ellison Institute of Technology, Los Angeles, CA 90064, USA+ These authors contributed equally.The following laboratory procedure provides students with a hands-on experience in nanomaterials chemistry and characterization. This three-day protocol is easy to follow for undergraduates with basic chemistry or materials science backgrounds and is suitable for inclusion in upper division courses in inorganic chemistry or materials science. Students use air-free chemistry procedures to synthesize and separate iron oxide magnetic nanoparticles and subsequently modify the nanoparticle surface using a chemical stripping agent. The morphology and chemical composition of the nanoparticles are characterized using electron microscopy and dynamic light scattering measurements. Additionally, magnetic characterization of the particles is performed using an open-source (3D-printed), inexpensive magnetophotometer. Possible modifications to the synthesis procedure including the incorporation of dopants to modify the magnetic response and alternative characterization techniques are discussed. The three-day synthesis, purification, and characterization laboratory will prepare students with crucial skills for advanced technology industries such as semiconductor manufacturing, nanomedicine, and green chemistry.