The preparative method, characterization, and magnetic susceptibility measurements versus temperature T of the heavy-fermion transition-metal oxide LiV 2 O 4 are reported in detail. The intrinsic (T) shows a nearly T-independent behavior below ϳ30 K with a shallow broad maximum at Ϸ16 K, whereas Curie-Weiss-like behavior is observed above ϳ50-100 K. Field-cooled and zero-field-cooled magnetization M obs measurements in applied magnetic fields Hϭ10Ϫ100 G from 1.8 to 50 K showed no evidence for spin-glass ordering. Crystalline electric field theory for an assumed cubic V point group symmetry is found insufficient to describe the observed temperature variation of the effective magnetic moment. The Kondo and Coqblin-Schrieffer models do not describe the magnitude and T dependence of with realistic parameters. In the high-T range, fits of (T) by the predictions of high-temperature series expansion calculations provide estimates of the V-V antiferromagnetic exchange coupling constant J/k B ϳ20 K, g factor gϳ2, and the T-independent susceptibility. Other possible models to describe the (T) are discussed. The paramagnetic impurities in the samples were characterized using isothermal M obs (H) measurements with 0ϽHр5.5 T at 2-6 K. These impurities are inferred to have spin S imp ϳ3/2-4, g imp ϳ2, and molar concentrations of 0.01-0.8 %, depending on the sample.