We demonstrate band gap control of CdTe nanocrystals by selective surface modification using alkanethiol molecules. Both absorption and emission wavelengths can be tuned simply by mixing a dispersion of the nanocrystals with alkanethiol at room temperature, resulting in blue shifts in the optical spectra during reaction. The degree of blue shift depends on both the concentration of alkanethiols and the reaction time, thereby providing kinetic control over the emission peak wavelength of the nanocrystals in mild conditions. The observed spectral changes are suggested to be caused by a decrease in the size of the CdTe core through formation of CdTe1-x(SC10)x shells because of specific exchange of Te with alkanethiolates. The results reported herein provide a new band gap engineering scheme for semiconductor nanocrystals and offer opportunities for the design of ligand-stabilized semiconductor nanocrystals with tunable composition and optical properties.