The disordered face-centered-cubic A1 to the chemical ordered face-centered-tetragonal L10 phase transformation of chemically synthesized magnetic FePt nanoparticles has been studied in the millisecond regime using a pulsed high-density plasma arc light source. Under select annealing conditions, relatively high magnetic coercivities (Hc) and anisotropies (Hk) of FePt nanoparticles were obtained with the millisecond pulse processing without significant sintering of the nanoparticles.