A technique is introduced for identifying uncertain and/or unknown parameters of chaotic dynamical systems via using simple state feedback. The proposed technique is based on bringing the system into a stable steady state and then solving for the unknown parameters using a simple algebraic method that requires access to the complete or partial states of the system depending on the dynamical model of the chaotic system. The choice of the state feedback is optimized in terms of practicality and causality via employing a single feedback signal and tuning the feedback gain to ensure both stability and identifiability. The case when only a single scalar time series of one of the states is available is also considered and it is demonstrated that a synchronization-based state observer can be augmented to the state feedback to address this problem. A detailed case study using the Lorenz system is used to exemplify the suggested technique. In addition, both the Rössler and Chua systems are examined as possible candidates for utilizing the proposed methodology when partial identification of the unknown parameters is considered. Finally, the dependence of the proposed technique on the structure of the chaotic dynamical model and the operating conditions is discussed and its advantages and limitations are highlighted via comparing it with other methods reported in the literature.