Converting solid iron oxide nanoparticles into a “pseudo-water-soluble” form before applying them to chemiluminescent reactions leads to enhance the chemiluminescence intensity. Using 8-hydroxyquinoline as a colloidal agent, a new, fast, and simple method of synthesizing pseudo-water-soluble Fe2O3 nanoparticles was developed. SEM, VSM, SAED, HRTEM, XRD, FTIR, and EDS techniques were used to characterize the synthesized Fe2O3 nanoparticles. Fe2O3 nanoparticles synthesized in this study have superior peroxidase-like activity (POD-like) and are stable under a wide range of pH and temperature. The chemiluminescence reaction of luminol-H2O2 is intensified and accelerated by a colloidal solution of Fe-nanoparticles/8-hydroxyquinoline. Reverse-flow injection analysis was employed to determine brilliant blue. A chemiluminescent sensing method based on iron oxide nanozymes was utilized for sensitive detection of the brilliant blue synthetic dye, achieving a limit of detection of 0.06 mg/L and a dynamic linear range of 0.1 to 50 mg/L. The recovery and relative standard deviations of real samples were found to be 97.83–99.93% and 0.09–3.07%, respectively. An analysis of a sample, from injection to obtaining the maximum peak, could be performed in less than one minute.