By using Fe(CO)-OAm (oleylamine, x < 5) as the Fe precursor to slow down the formation rate of FePt nanoparticles (NPs), a time dependence of the NPs' nucleation and growth process was observed by transmission electron microscopy (TEM). The complexing temperature of OAm and Fe(CO) at which Fe(CO)-OAm was formed has a strong influence on the nucleation rate and growth process of the NPs. TEM analyses indicated that the NPs with isotropic shape were single crystalline throughout the synthesis and were formed by a diffusion-controlled Ostwald-ripening (OR) growth mechanism. The nanorod particles were first formed via joining of arbitrarily oriented single crystals and the two crystals formed a uniform particle afterwards, as described by the oriented-attachment (OA) mechanism. The ratio of OAm to Fe(CO) used in the preparation of Fe(CO)-OAm has a significant influence on the growth process, and subsequently the shape, size and size distribution of the FePt NPs. By adjusting the ratio and its complexing temperature, single-crystal FePt NPs with controllable size and isotropic shape were obtained. The insight into the exploration of the specific roles of the reaction conditions and the formation mechanisms provided important information for controlling the morphology of the nanoparticles.