We report the synthesis, from simple salts, and the physical characterization of superparamagnetic iron platinum nanoparticles (SIPPs) suitable for use as contrast agents in magnetic resonance imaging. The properties of these particles were determined by means of transmission electron microscopy (TEM), thermogravimetric analysis (TGA), inductively coupled plasma-optical emission spectroscopy (ICP-OES), superconducting quantum interference device (SQUID) magnetometry, and nuclear magnetic resonance (NMR) relaxivity at 4.7 Tesla. TEM showed that the diameters of the particles ranged from 9.3 nm to 10 nm, depending on the mole ratio of iron to platinum precursors, and on the concentration of Octadecylamine (ODA) used in their preparation. The iron to platinum stoichiometry determined by ICP-OES varied from 1.4:1 to 3.7:1 and was similarly dependant on the initial mole ratios of iron and platinum salts, as well as on the concentration of ODA in the reaction. SQUID magnetometry showed that the SIPPs were superparamagnetic and had magnetic moments that increased with increasing iron content from 62 to 72 A•m(2)/kg Fe. The measured relaxivities of the SIPPs at 4.7 Tesla were higher than commercially available superparamagnetic iron oxide nanoparticles (SPIONs), suggesting that these particles may be superior contrast agents in T(2)-weighted magnetic resonance imaging (MRI).