Nanocrystalline CdS particles directly conjugated with bovine serum albumin (BSA) protein were prepared by applying the supercritical fluid processing technique, rapid expansion of a supercritical solution into a liquid solvent. The direct conjugation takes advantage of the unique features of the process for nanoparticle formation. The BSA-conjugated CdS nanoparticles in stable aqueous suspension or in the solid state were characterized by using microscopy, X-ray diffraction, and optical spectroscopy methods. The results show that well-dispersed CdS nanoparticles are coated with BSA in a core-shell-like arrangement and that the protein species associated with the nanoparticles remain functional according to the modified Lowry assay. These BSA-conjugated CdS nanoparticles are also strongly luminescent, with the luminescence spectrum contributed to primarily by the exciton emission.