In this paper, Eu(n+), Sm3+ doped Fe3O4 nanoparticles were prepared via solvothermal method, in which Ferric chloride is used as the iron source, and anhydrous EuCl3, SmCl3 as doping source. Eu, Sm valence in doped Fe3O4 nanoparticles, and effects of Eu, Sm doping amount on their structure, morphology, magnetic properties and PL properties were discussed. The results show, the Eu ions had doped Fe3O4 nanoparticles in the mixed-valence state, when the Eu and Sm doping amount were increased, the doped Fe3O4 nanoparticles changed from hollow nanospheres into spherical particles, and finally changed into uniform cube-shaped particles with 13 nm in diameter. Moreover, the doping sites for doping ions in doped Fe3O4 nanoparticles were discussed from Rietveld analysis of XRD pattern of the doped Fe3O4 nanoparticles. And the changes of the magnetic and PL properties with the doping amount were further discussed. It was found that higher Sm(3+)-doping amount led to stronger magnetic dipole transitions, while the Eu(n+)-doping amount had little effect on the magnetic dipole transitions, thus resulting in different changes in their saturation magnetization with doping amount.