Yttrium iron garnet (YIG) is a ferrimagnetic material which found applications in magnetics, electronics and optics. For those applications, a monocrystalline structure is often required. Although effective methods to grow large YIG single crystals exist, fabricating such structures in a powder form can be challenging. Here, we show a simple procedure to obtain large quantities of monocrystalline Y _3 Fe _5 O _12 particles based on the precipitation synthesis. The average size of the single crystals was evaluated to be 149(6) nm. The morphology of the particles was analysed using SEM, TEM, DLS and nitrogen adsorption techniques. The material was tested for its structural properties with the use of XRD and electron diffraction methods. The chemical composition was investigated using FTIR, EDS and Raman spectroscopy. Finally, the thermal characteristics were analysed using TGA, while magnetic properties were tested with the use of the SQUID magnetometry. The obtained results are in good agreement with the theoretical values.