The comparative preparation of magnetite magnetic liquids by conventional and novel techniques is described and some characteristics of the obtained liquids are discussed. By contrast to conventional technique, according to novel technique the oleic acid was prepared by the interaction of sodium oleate and hydrochloric acid coincidentally with the deposition of the magnetite. It was shown that dispersed phase of the magnetic liquid, obtained by the novel technique, contains Fe 3 O 4 and paramagnetic iron oleate and is characterized by a larger dispersity as compared to the conventional technique.