Here we report a low cost scalable synthesis of L‐alanine capped CoFe2O4 magnetic nanoparticles, with excellent size tunability and magnetic properties. Samples were analyzed in details using electron microscopy, X‐ray powder diffraction and vibrational sample magnetometry. The magnetic nanoparticles have demonstrated excellent size distribution, uniformity and phase purity. It was found that the presence and concentration of L‐alanine ligand dramatically affects the size and morphology of the resulting CoFe2O4 nanoparticles, enabling size tunability from 120.5 to 11.3 nm. The magnetic moments of nanomaterials are ranging from 74 to 41 Am2kg−1, they are easily manipulated by an external magnetic field and show the onset of superparamagnetic behavior in the smaller nanoparticles prepared.