Monodisperse platinum nanoparticles were synthesized by microemulsion technique. Feasibility of formation of microemulsion with chosen proportions of components is a common problem with this method. Here, prior to preparation of microemulsion for synthesis purpose, systematic study was carried to check the suitability of selected microemulsion system by establishing phase diagram for ternary system at constant temperature on triangular coordinates. Temperature dependency of microemulsion was studied by preparing phase diagram of temperature against mass fraction of aqueous phase in ternary mixture. Both these triangular coordinate diagram at constant temperature and temperature dependency plots helped to choose proper concentrations of components in the system. Effects of molar concentration of water-to-surfactant ratio, platinum salt concentration, continuous oil phase concentration, and presence of cosurfactant with surfactant on particle size were investigated for selected system of components. Synthesized platinum nanoparticles were characterized by dynamic light scattering and transmission electron microscope. Light backscattering profiles obtained by Turbiscan were used to judge the stability of microemulsions. Further, partial weightage of affecting parameters on size of synthesized particle were studied by Taguchi orthogonal array method.