A very simple route for the synthesis of spherical down-conversion (DC) and up-conversion (UC) NaYF4-based nanophosphors is described which consists of a precipitation reaction at rather low temperature (max. 120 degrees C) from solutions containing sodium fluoride and appropriate Ln precursors in a common solvent (ethylene glycol/water mixtures), without the use of any other additive (complexing agent or surfactant). The role played by the nature of the yttrium precursor and the solvent on the morphological characteristics of the nanoparticles is discussed. The size of the nanospheres, which crystallized in the cubic alpha-NaYF4 phase, could be tuned within the 45-155 nm range by adjusting the reaction parameters (temperature and ethylene glycol/water ratio). The applicability of this method is illustrated for the synthesis of Eu-III-doped (DC), Tb-III-doped (DC) and Yb-III/Er-III codoped (UC) NaYF4 nanophosphors, whose luminescent properties were also analysed.