A novel microwave-assisted method of growth of high-quality CdTe/CdS core-shell nanocrystals in the aqueous phase is presented in this paper. The photoluminescence quantum yield (PLQY) is greatly enhanced by epitaxial growth of the CdS shell. Under optimum conditions, the PLQY of as-prepared nanocrystals reaches as high as 75% without any post-treatment. Furthermore, these investigations demonstrate that microwave irradiation is tremendously useful for fast epitaxial growth of nanocrystals due to its special characteristics. As a result, the microwave synthesis is sufficiently time-economizing (only five minutes are required) to obtain optimum amounts of CdTe/CdS core-shell nanocrystals in comparison to the conventional illumination method (several days are required). Therefore, this current research not only provides a rapid microwave synthesis for producing highly fluorescent CdTe/CdS core-shell nanocrystals, but also it presents some advantages of the microwave synthesis in comparison to the illumination method.