A system and method for synthesizing nanopowder which provides for precursor material ablation from two opposing electrodes that are spaced apart within a gaseous atmosphere, where a plasma is created by a high power pulsed electrical discharge between the electrodes, such pulse being of short duration to inertially confine the plasma, thereby creating a high temperature and high density plasma having high quench and/or reaction rates with the gaseous atmosphere for improved nanopowder synthesis.