BiFeO3 nanopowder has been prepared by the nitric acid-assisted gel process and its structure, optical and magnetic properties has been studied. XRD and FTIR results show that the BiFeO3 powder calcined at 550°C exhibits a rhombohedrally distorted perovskite structure without secondary phase. Meanwhile, the BiFeO3 powder has a bandgap of 2.19eV and exhibits the weak ferromagnetic nature at room temperature.