The theory of the nucleation process has been developed for monodisperse sparingly soluble colloidal particles in an open system, where the monomer source (a combination of the reactants or a single reactive component to be reacted with a counterpart in the system) is introduced from outside at a constant molal feed rate ( Q), and the rates of growth and dissolution of the particles are both limited by the diffusion of the monomer complexes. The theory is based on a nucleation model where stable nuclei as origins of the product particles are produced through a kind of Ostwald ripening from stationary unstable nuclei that are in a quasi-steady state of balance between the generation of their embryos by instantaneous reaction of the introduced reactants and either dissolution or growth. It leads to the final particle number, n + ∞, the mean radius of the stable nuclei at the end of the nucleation, r + n , and the nucleation time for the production of the stable nuclei, t n; i.e., n + ∞ = 1.567QRT 8πDσV m C ∞ , r + n = 1.638 r p, and t n = 5.097RTv p 8πDσV m 2C ∞ , where R is the gas constant, T is the absolute temperature, D is the diffusion coefficient of the monomers, a is the specific surface energy of the solid, V m is the molar volume of the solid, C ∞. is the solubility of the solid, and r p and v p are the maximum radius and the maximum volume, respectively, of the embryos within their size distribution range. The theoretical conclusions have been confirmed by experiment for the formation of monodisperse AgBr particles, and the mean radius as well as the maximum radius of their embryos was evaluated.