Here we report on a new route to synthesize colloidal silver and gold nanoparticles, potentially scalable for massive nanoparticle-production. This method is based on the microwave-assisted heterogeneous reduction of the metal salts with polyvinylalcohol. The reaction is carried out in alcohols, which are non-solvents for polyvinylalcohol. Nanoparticles can be very easily separated by filtration. The reaction kinetics are extremely fast. Size-controlled formation of nanoparticle agglomerates is accomplished with a seed-mediated synthesis of nanoparticles upon MW exposure.