In the synthesis of surface modified metal oxide nanoparticles (NPs), supercritical CO2 is an attractive medium to achieve a simple and green chemistry approach without waster liquor. However, the mass production of surface-modified NPs is still a serious challenge for their industrial utilization. In this work, we aimed to demonstrate the high-concentrated synthesis of surface-modified iron oxide NPs in ethanol-enhanced supercritical CO2. The synthesis and phase observation were performed at 30.0 ± 0.8 MPa of CO2, 100 °C and 18 h, while changing the total concentration of iron(Ⅲ) acetylacetonate, water and oleic acid and ethanol ratio. As a result, lower total concentration gave single nano-sized α-Fe2O3 nanocrystal under uniform phase while higher one gave aggregated α-FeOOH under ununiform phase. However, ethanol entrainer successfully homogenized the reaction field by drastically raising the solubilities of components, allowing the high-concentrated synthesis of single nano-sized α-Fe2O3 nanocrystal. Furthermore, synthesized nanocrystal had chemically and densely modified surface, showing the unimodal size distribution in cyclohexane. These results conclusively show that supercritical CO2 with ethanol entrainer is a promising medium to allow the mass production of densely modified nanocrystal and subsequent their industrial utilization in thin film fabrication and drug delivery system.