In this study, Fe3O4 nanoparticles were used as catalysts for the growth of vertically aligned carbon nanotubes (VA-CNTs) by chemical vapor deposition (CVD). The effect of catalyst concentration and water vapor during the CVD process on the properties of the VA-CNTs was investigated. Monodisperse Fe3O4 nanoparticles (4.5-9.0 nm diameter) prepared by thermal decomposition of iron acetylacetonate compounds were spin-coated on clean silicon substrates which served as a platform for VA-CNTs growth. The results indicated that the length, density and growth rate of CNTs were strongly affected by the catalyst concentration. CNTs grown at 0.026 g/ml Fe3O4 catalyst had greater length, density and growth rates than those obtained at 0.01 and 0.033 g/ml Fe3O4 catalyst. Addition of water during the CVD process had drastically improved CNTs growth. The length and growth rate of obtained CNTs were 40 um and1.33 um/min, respectively. The results provided insights into the role of Fe3O4 catalyst and water vapor during VA-CNTs growth process by CVD method and the obtained information might serve as a starting point for further optimization of VA-CNTs synthesis.