In this study, we synthesized Ge nanocrystals and studied the effects of variables such as solvents, reducing agents, reaction temperature, and capping ligands. The resulting nanocrystals showed infrared photoluminescence with quantum yields as high as approximately 8% and enhanced resistance to oxidation. Size analysis of the samples by transmission electron microscopy revealed that the size dependence of the emission is consistent with the effects of quantum confinement.