We report a facile method for the synthesis of water soluble MoO3-x quantum dots (QDs) at room temperature by injecting hydrochloric acid and mercaptosuccinic acid into ammonium molybdate solution within 5 seconds. The optical properties and oxygen vacancy concentration of the QDs could be well controlled by the competitive absorption of a carboxyl group and sulfhydryl group of the ligand with QDs by coordination interaction. The obtained QDs could be used as near infrared region (NIR) fluorescence probes to detect hydrogen peroxide with a low detection limit (3 nM).