Abstract. In this study, the onset of convection in an elastico-viscous Walters' (model B') nanofluid horizontal layer heated from below is considered. The Walters' (model B') fluid model is employed to describe the rheological behavior of the nanofluid. By applying the linear stability theory and a normal mode analysis method, the dispersion relation has been derived. For the case of stationary convection, it is observed that the Walters' (model B') elastico-viscous nanofluid behaves like an ordinary Newtonian nanofluid. The effects of the various physical parameters of the system, namely, the concentration Rayleigh number, Prandtl number, capacity ratio, Lewis number and kinematics visco-elasticity coefficient on the stability of the system has been numerically investigated. In addition, sufficient conditions for the non-existence of oscillatory convection are also derived.