Provided are iron oxide nanocapsules for an MRI contrast agent having high contrast, in which a plurality of iron oxide nanoparticles having a hydrophobic ligand attached thereto are encapsulated in an encapsulation material including a biodegradable polymer and a surfactant, and which satisfy Relations 1, 2, 3, 4 and 5 below. Also a method of manufacturing the iron oxide nanocapsules is provided. 5@100*Dmu(IO)/C omega(IO)[Relation 1] 2.5@100*Dmu(Cap)/C omega(Cap)[Relation 2] 0.5 wt %@F(IO)@50 wt %[Relation 3] 1 nm@Dmu(IO)@25 nm[Relation 4] 50 nm@Dmu(Cap)@200 nm[Relation 5]