Abstract: The research status of InP nanocrystallite in the world is described in this paper. The InP nanocrystallite was prepared by reflowing and annealing of organic solvent. The 55nm average diameter of InP nanocrystallits was obtained by calculating X-ray diffraction spectrum. The Raman spectrum indicates that the two scattering peaks of Raman spectrum move towards low energy because of quantum size effect of nano particles. The obvious blue shift of the sample optical absorption edge relative to the bulk InP (970nm) was observed via UV-VIS absorption spectrum and it indicates that gap becomes wider and the effect of quantum size becomes obvious. The obvious blue shift of fluorescence spectrum luminescent peak relative to the bulk InP infrared region was observed with PLE spectrum at 380nm and PL spectrum at 573nm. It shows that the InP nanocrystallite will have a great potential in the field of photoelectronic devices and nonlinear optics.