Stable aqueous dispersions of fullerenes, C60 and C70, were prepared by simply injecting into water a saturated solution of fullerene in tetrahydofuran (THF), followed by THF removal by purging gaseous nitrogen. To our knowledge, this is the first report of the stable dispersion of C70 in water. Fullerenes are dispersed as monodisperse clusters in water, 60 nm in diameter. High resolution transmission electron microscopy revealed the polycrystalline nature of the cluster. The preparation of the dispersion is very easy to perform, and the dispersions thus obtained are of excellent colloidal stability even though no stabilizing agent is used. It was found that the surface of the cluster is negatively charged and the electrostatic repulsion between the negatively charged cluster surfaces is important for the stability of the dispersions.