We describe the synthesis and characterization of silicon nanoparticles prepared by the solution reduction of silicon tetrachloride by lithium naphthalenide and subsequently with n-butyllithium at room temperature. These reactions produce silicon nanoparticles with surfaces that are covalently terminated with butyl group. Reaction with lithium aluminium hydride instead of n-butyllithium produces hydride-terminated silicon nanoparticles. The butyl or hydride terminated silicon nanoparticles can be suspended in hexane and their optical behavior have been characterized by photoluminescence spectroscopy. Stabilization of silicon nanoparticles were investigated upon illumination, indicating that as-prepared silicon nanoparticles are very stable at room temperature for several days.