A dispersion of carbon nanoparticles is prepared by monodispersing carbon nanoparticles in water droplets of a reverse micelle solution in which the water droplets are coated with amphiphilic molecules and dispersed in an organic solvent. In a method of preparing the dispersion of carbon nanoparticles, carbon nanoparticles and a monodispersion function material, e.g., ammonia, for imparting a polarity to surfaces of the carbon nanoparticles are added to the reverse micelle solution. The solution is then stirred, so that the carbon nanoparticles whose surfaces have the polarity are monodispersed in the water droplets of the reverse micelle solution. Further, a metal alkoxide is added to the solution and then stirring them, so that the surfaces of the carbon nanoparticles are coated with oxide of the metal.