Super paramagnetic iron oxide nanoparticles (SPION) with a cross-linked dextran coating can be used as a negative contrast agent in magnetic resonance imaging agent. This study describes the preparation, biodistribution of 166 Ho-DTPA-SPIONs after intravenous injection in normal Wistar rats. The biodistribution of 166 Ho-DTPASPIONs showed dramatic uptake in reticuloendothelial system (i.e., more than 60 and 15 % of injected dose was in liver and spleen at 30 min post-injection, respectively) and the clearance of the radiotracer is so fast in other organs. These results suggest that 166 Ho-DTPA-SPIONs could be good candidate for theranostic purposes in for liver and spleen malignancies.