In this work, bare and (Fe3+ and Fe2+)-doped ZnO nanoparticles (NPs) have been synthesized in a polyol medium at 180°C. The synthesis in polyol allows a precise control of doping under size-controlled conditions. The Fe concentration varied in the 0-2 at. % range. As-synthesized samples were characterized by X-ray diffraction (XRD), Fourier Transform Infrared (FT-IR), Photoluminescence (PL) spectroscopy and Vibrational Sample Magnetometry (VSM). XRD measurements confirmed the formation of well crystallized wurtzite ZnO with absence of secondary phases in bare and doped samples; the average crystallite size was estimated at 8.4 ± 0.3 nm for bare ZnO NPs. Systematic shifts in the main diffraction peaks due to the incorporation of the dopant species were observed in the Fe3+ and Fe2+ doped-ZnO samples. FT-IR analyses evidenced the presence of organic moieties on the surface of the nanoparticles that are associated to the functional groups of polyol by-products; these adsorbed species could explain the observed stability of the NPs when suspended in water. PL measurements (excitation wavelength 345 nm) reveled that a tuning in the emission bands of ZnO NPs can be achieved through doping. VSM measurements evidenced a weak but noticeable ferromagnetic response at room temperature (RT) in doped samples. © 2013 Materials Research Society.