CdSe host nanocrystals (NCs) doped with Eu²⁺ ions are synthesized in an aqueous solution using thioglycollic acid as a stabilizer. The structures, elements, shape, and spectral properties of these nanocrystals are investigated. The obtained CdSe:Eu²⁺ nanocrystals are consistent with the zinc blende crystal structure, with an approximately spherical shape of about 5 nm in diameter. CdSe:Eu²⁺ nanocrystals display a broadband emission peak at 505 nm attributed to the parity and spin-allowed 4f–5d transition of the Eu²⁺ ion, and the energy from the absorbed photons can be effectively transferred to the Eu²⁺ impurity ions on the nanocrystal surface. The obtained CdSe:Eu²⁺ nanocrystals not only maintain the intrinsic properties of being monodisperse and homogeneous, but also exhibit the characteristic luminescence of Eu²⁺ ions.