CdS nanocrystals were synthesized in 1-octadecene (ODE) solution with oleic acid (OA) as a capping agent. Freshly prepared CdS nanocrystals showed a weak orangelike fluorescence due to defects on the particle surface. After several weeks' storage, the bulk fluorescence of CdS nanocrystals was dramatically enhanced, which gave the nanocrystals a blue or violet appearance. UV and photoluminescence (PL) measurements were employed to investigate this process. It has been found that the oxygen in the air played the most important role. The oxygen atoms could absorb on the surface of particles and a layer of oxide was gradually formed, which effectively passivated the surface of CdS nanocrystals. Interestingly, this oxidative process had no relation to UV illumination.