We report the investigation of microstructure and magnetic properties of ultrathin FePt (1–10nm) films grown on oxidized Si substrates with a 10nm MgO(100) intermediate layer. The isolated FePt particles with high degree of L10 ordering and large magnetocrystalline anisotropy could be fabricated with a thickness of less than 5nm. Perpendicular coercivity of isolated FePt particles is controllable between 15 and 25kOe. These results are promising and highly desirable for magnetic recording applications.