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Abstract Magnetic nanoparticles have continued to gain significant attention due to their unique magnetic properties and potential applications. However, it is still challenging to directly synthesize water-dispersible magnetic nanoparticles with controlled size for biomedical applications. This study investigates the influence of solvents on the continuous growth of magnetic nanoparticles, aiming to achieve controlled size and excellent water dispersibility via thermal decomposition in polyol solvents. The size of the nanoparticles gradually increases with longer polyol chain solvents. The increase in nanoparticles size is more significant under a higher reaction temperature (220 °C) compared to a lower temperature (190 °C). These monodispersed nanoparticles exhibit strong superparamagnetic properties, improving with longer solvent chain lengths at the same size. Magnetic resonance imaging (MRI) studies reveal higher relaxivities for magnetic nanoparticles synthesized in longer-chain polyols. This research offers valuable insights for synthesizing magnetic nanoparticles with precise sizes, magnetic properties, and biomedical applications. Graphical abstract