Nanoscale Zero Valent Iron (NZVI) is the most widely used engineering nanomaterials in the remediation of contaminated site. This study investigated the effect of NZVI treatment on the physicochemical properties of Lead (Pb)-contaminated soil to improve the understanding of the soil improvement. The changes of soil physicochemical properties were investigated using the concentration range of 0.2%, 1%, 5%, and 10% NZVI g/g dry soil. Results showed that the introduction of NZVI to the Pb-contaminated soil resulted in substantial changes in the surface physicochemical properties. The ferric and ferrous ions, and the lead ions were released at the same time from the corrosion of NZVI precipitation, and from the surface of soil particles, respectively, amongst which, part of exchangeable lead ions were reduced to Pb(I) and/or Pb 0. A general change in the soil's electrical conductivity, BET surface area, soil buffering capacity, and soil's particle size was confirmed. A conclusion was drawn that the mass transfer of NZVI and its induced precipitation of Fe/Pb ions made a great contribution to the changes of soil physicochemical properties. This study could make for the application of nanomaterials in remediation of contaminated sites, especially for the brownfield remediation and backfill usage after the contaminated soil was remediated.