Spherical nanosized cobalt powder with an average size of 150-400 nm was successfully prepared at room temperature from cobalt sulfate heptahydrate ($CoSO_4{cdot}7H_2O$). Wet chemical reduction method was adopted to synthesize nano cobalt powder and hypophosphorous acid ($H_3PO_2$) was used as reduction agent. Both the HCP and the FCC Co phase were developed while $CoSO_4{cdot}7H_2O$ concentration ranged from 0.7 M to 1.1 M. Secondary phase such as $Co(OH)_2$ and $CO_3O_4$ were also observed. Peaks for the crystalline Co phase having HCP and FCC structure crystallized as increasing the concentration of $H_3PO_2$, indicating that the amount of reduction agent was enough to reduce $Co(OH)_2$. Consequently, a homogeneous Co phase could be developed without second phase when the $H_3PO_2/CoSO_4{cdot}7H_2O$ ratio exceeded 7.