Spherical nickel nanoparticles have been synthesized by chemical reduction method in the presence of hydrazine as a reducing agent. The structure, morphology and magnetic properties of the synthesized products were characterized by X-ray diffraction, scanning electron microscope and vibrating sample magnetometer. The synthesized products have been confirmed to be phase-pure crystalline nickel with face centered cubic structure on the basis of X-ray diffraction. Scanning electron microscopy image demonstrated that prepared nickel product possess spherical chain like structure. Magnetic measurements showed that samples were ferromagnetic. The value of remanent magnetization and coercivity was enhanced while the value of saturation magnetization was decreased when compared to bulk nickel at room temperature.