Laser speckle velocimetry (LSV) is presented to measure the velocities of nanoparticles in nanofluids and its feasibility is verified in this paper. An optical scattering model of a single nanoparticle is developed and numerical computations are done to simulate the formation of the speckles by the addition of the complex amplitudes of the scattering lights from multiple nanoparticles. Then relative experiments are done to form speckles when nanofluids are illuminated by a laser beam. The results of the experiments are in agreement with the numerical results, which verify the feasibility of utilizing LSV to measure the velocities of nanoparticles in nanofluids.