Single-crystalline Ni nanowires have been successfully fabricated with anodic aluminum oxide as template by electrodeposition. Structural characterization (X-ray diffraction, XRD, and high-resolution transmission electron microscopy, HRTEM) shows that the single-crystalline Ni nanowire has a preferred orientation along the [220] direction. The effects of electrochemical deposition conditions on the structure of Ni nanowires are systematically studied to investigate the growth mechanism. Possible reasons for the growth of the single-crystalline Ni nanowires were discussed on the basis of electrochemistry and thermodynamics. These single-crystalline Ni nanowires have exhibited excellent magnetic properties (large anisotropy, large coercivity, and high remanence). By a similar process, single-crystalline Co nanowires with hexagonal close-packed (hcp) structure were achieved, also having large anisotropy, large coercivity (1.8 kOe), and high remanence ratio (80.8%).