Ligand stabilized 4 nm nickel colloids are prepared by reduction of Ni(acac)2 with Et2AlH in diethyl ether in the presence of PPh3; they can be isolated in solid state and redispersed in any concentration in polar solvents such as pyridine, due to their ligand shell mainly consisting not of PPh3 molecules but, instead, of PPh moieties which are generated from PPh3 during reaction with Et2AlH with formation of free benzene.