Combustion synthesis of Fe3O4 and properties of the resulted powders have been discussed in relation to reaction atmosphere (in air/in the absence of air) and used fuel (sucrose, citric acid and glucose). Conducting the combustion reactions in air caused the rapid oxidation of Fe2+ to Fe3+ under the influence of the atmospheric oxygen; therefore the final reaction product was a mixture of alpha-Fe2O3 and gamma-Fe2O3. In order to avoid the oxidation of Fe2+ to Fe3+ a simple but efficient solution has been suggested: combustion reactions were carried out in a round bottom flask and the evolving gases were bubbled in a beaker filled with water. This solution allowed the preparation of Fe3O4 nanopowders, with crystallite size varying from 10 nm (glucose) to 18 nm (citric acid). Depending on the used fuel, the specific surface area of the magnetite powders varied between 56 m(2)/g (citric acid) and 106 m(2)/g (glucose). The saturation magnetization of Fe3O4 powders prepared in the absence of air ranged between 55.3 emu/g (glucose) and 59.4 emu/g (sucrose).