The technique of pulsed laser deposition and colloidal chemistry methods have been applied for synthesis of semimagnetic semiconductor Cd 1− x Mn x Te nanocrystals embedded in dielectric matrix. The performed analysis suggests a narrower size distribution for the colloidal nanoparticles. Optical absorption, Faraday rotation and photoluminescence spectroscopy have been used to characterize the grown quantum dot structures. The magneto-optical spectra of the Cd 1− x Mn x Te nanocrystals exhibit peculiarities typical for bulk semimagnetic semiconductors due to the strong spin-exchange interaction between band carriers and magnetic ions and simultaneously manifest some features because of confinement effects in low dimensional structures.