This study synthesizes iron(III) oxide magnetic nanoparticles (MNPs) using a facile and eco-friendly microwave-assisted solvothermal method. The highly porous particles become stable after a 60-min reaction when the temperature is fixed at 200 °C, in which the particle size is kept at 100-150 nm. The magnetic properties, crystal structure, surface morphology, and microstructures of the prepared MNPs are then analyzed. The microstructure analysis suggests that a MNP consists of numerous small Fe₃O₄ particles with a size smaller than 10 nm; therefore, a large amount of microcracks is observed between grains. Moreover, the orientations in these particles are very close, implying that they grow toward the same direction that may be provided by the nuclei. The prepared MNPs thus possess a highly porous structure and have a 3-times larger specific surface area than the commercially-available MNPs. Finally, the growth mechanism of iron(III) oxide MNPs by the present process is proposed.