In the present work CoNi2O4 nano particles are synthesized by one step hydrothermal technique using different amount of polyvinylpyrrolidone (0.1, 0.2 and 0.3 g) as the stabilizing agent. The structural analysis shows that the sample with 0.1 g polyvinylpyrrolidone shows amorphous nature and when the amount of polyvinylpyrrolidone (PVP) increases, the crystalline size increases from 6 to10 nm showing the improved crystallinity. EDS analysis shows the presence of Co, Ni and O. FE-SEM analysis shows the transformation of leafy structure to fibrous structure when the PVP amount is increased. From the optical studies, the optical bandgap is found to decreases from 4.12 to 3.63 eV.