Phase changes in Fe2O3 and Fe2O3/TiO2 nanoparticles were studied by X‐ray diffraction. Because of a very small size of the particles, standard methods of data analysis based on the physical broadening of lines and instrumental function fail and calculations based on the Debye formula were used instead. The measured data from both types of particles were analyzed assuming a core‐shell model of the phase composition of the particles and the dependence of the particle size and phase composition on the annealing temperature was determined. In both types of nanoparticles a phase transition was observed and the amount of a new phase increases with the annealing temperature. (© 2010 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim)