Nanocrystalline FeNiCo ternary alloy particles were synthesized by ultrasonic spray pyrolysis and hydrogen reduction method. Fe(No-3)(3)center dot 9H(2)O, Ni(NO3)(2)center dot 6H(2)O and Co(NO3)(2)center dot 6H(2)O were used as a starting material to synthesize the nanocrystalline spherical ternary alloy particles. The experiments were performed at 600, 800 and 1000 degrees C using iron-nickel-cobalt nitrate aqueous solution. Shape, morphology, size, chemical composition and crystal structure of the particles were investigated. X-ray diffraction (XRD), scanning electron microscope (FEG-SEM) and energy dispersive spectroscopy (EDS) studies were carried out to characterize the ternary alloys particles. Vibrating sample magnetometer (VSM) was used to characterize the magnetic properties. Spherical nanocrystalline FeNiCo ternary alloy particles were prepared in the size range of 65 and 500 nm. Average crystallite size of the particles is 50 nm.