Nanofluids have been developed in a search of new coolants with higher thermal conductivity compared to the conventional coolants, such as water or ethylene glycol. This research is conducted to observe the main characteristics, such as particle size, suspension stability, and thermal conductivity, of nanofluids produced from wet mechanochemical process with the addition of 0.02 vol% oleic acid. Milling process was conducted in conventional planetary ball mill for 15 hours. The results showed that nanoparticle was formed from micron size raw materials and dan dispersed simultaneously in water. Particle size distribution of particles which are less than 100 nm size were in the range of 51-100%. The ratio of thermal conductivity enhancement of the 1% vol TiO 2 nanofluids compared with water without surfactant is 1.1. The ratio of thermal conductivity of TiO2 nanofluids increases in higher concentration of nanofluids. Oleic acid addition increases the particle stability of nanofluids and its ratio of thermal conductivity.