The characteristics of cobalt oxide powders prepared by hot petroleum drying method from the cobalt acetate were evaluated by DTA/TGA, XRD, BET, SEM and density measurement. The cobalt oxide powder could be prepared by hot petroleum drying of the emulsion of cobalt acetate salt solution and the subsequent thermal decomposition of the acetate at 300$^{circ}C$. As the concentration of the salt solution and the calcination temperature of the dried powder increased, the surface area of the synthesized powder decreased due to the particle growth, so that after sintering the density and grain size decreased. For the same concentration of the salt solution, the surface area and sinterability of the powder by hot petroleum drying increased in comparision with those by conventional drying.