By combining magnetic properties with nanosized biocompatible materials, superparamagnetic nanoparticles may serve as colloidal heating mediators for cancer therapy. This unique potential has attracted attention for designing new magnetic nanoparticles with high efficiency heating properties. Their heating power under high frequency magnetic field is governed by the mechanisms of magnetic energy dissipation for single-domain particles due both to internal Néel fluctuations of the particle magnetic moment and to the external Brownian fluctuations. These mechanisms are highly sensitive to the crystal size, the particle material, and the solvent properties. Here we explore the heating properties of maghemite particles with large particle sizes, in the range 15–50 nm, synthesized through a new procedure which includes a hydrothermal process. Particle shape and size distribution, hydrodynamic volume, and magnetic anisotropy are characterized, respectively, by transmission electron microscopy, dynamic magnetically induced birefringence, and ferromagnetic resonance. Together with our previous data on low diameter particles (Fortin J P et al 2007 J. Am. Chem. Soc 129 2628–35), this study provides the whole size dependence of heating efficiency in the range 5–50 nm and assesses the balance between Néel and Brownian contributions to thermal losses. In agreement with theoretical predictions, the heating efficiency shows a maximum for an optimal size of about 15 nm.