This paper reports the magnetic properties of partially oxidized FeO nanoparticles (NPs) prepared using thermal decomposition of iron acetylacetonate at high temperature. X-ray diffraction (XRD) analysis confirmed that the resulting NPs comprise a mixture of wüstite and magnetite phases, which are subsequently confirmed using high resolution transmission electron microscopy (HR-TEM) and selected area electron diffraction (SAED) pattern. Magnetic properties were investigated using vibrating sample magnetometer (VSM), which exhibit superparamagnetic (SPM) behavior at room temperature. Alternatively, below 200 K, a large exchange bias field has been observed in field cooled mode whose magnitude increases with the decrease in measuring temperature attaining a maximum value of ∼2.3 kOe at 2 K accompanied by coercivity enhancement (∼3.4 kOe) and high field of irreversibility (>50 kOe). The results are discussed taking into account the role of interface exchange coupling on the macroscopic magnetic properties of the nanoparticles.