A novel and straightforward approach, based on oil-in-water (o/w) microemulsions, was developed for the synthesis of inorganic nanoparticles at ambient conditions. It implies the use of organometallic precursors dissolved in nanometre-scale oil droplets of o/w microemulsions. Addition of reducing or oxidizing/precipitating agents results in the formation of metallic or metal oxide nanoparticles, respectively. Nonionic o/w microemulsion systems were chosen, and several key compositions were selected for nanoparticle synthesis at 25 °C. High Resolution Electron Microscopy revealed that small nanoparticles of metals (Pt, Pd and Rh) and nanocrystalline metal oxide (cerium (IV) oxide with cubic type crystalline structure confirmed by XRD), of less than 7 nm can be obtained in mild conditions.