A simple, low-cost and convenient method was developed for the synthesis of highly luminescent CdSe quantum dots (QDs) in an aqueous medium. Compared with previous methods, this synthesis was carried out in one pot using ascorbic acid (C6H8O6) to replace NaBH4 or N2H4·H2O as a reductant, and selenium dioxide to replace selenium or its other hazardous, expensive and unstable compounds as a precursor. The mechanism of CdSe QDs formation was elucidated. The influence of various experimental variables, including refluxing time, Cd/MSA and Cd/Se molar ratios, on the luminescent properties of the QDs were systematically investigated. X-Ray powder diffraction and transmission electron microscopy characterization indicated that the QDs had a pure cubic zinc-blended structure with a spherical shape.