•The M(H) magnetization curves of NiO nanoparticles (NPs) measured in pulsed fields of up to 250 kOe have been studied.•A model of NiO NP obtained from analysis of M(H) data have been proposed.•Surface and size effects as well as the origin and the magnitude of uncompensated magnetic moment have been revealed. -The analysis of the M(H) magnetization curves of antiferromagnetic nanoparticles yields information about magnetic subsystems formed in these objects, which are characterized by a large fraction of surface atoms. However, in the conventionally investigated experimental magnetic field range of up to 60–90 kOe, this analysis often faces the ambiguity of distinguishing the Langevin function-simulated contribution of uncompensated magnetic moments μun of particles against the background of a linear-in-field dependence (the antiferromagnetic susceptibility and other contributions). Here, this problem has been solved using a pulsed technique, which makes it possible to significantly broaden the range of external fields in which the μun contribution approaches the saturation. Nanoparticles of a typical NiO antiferromagnet with an average size of ~ 4.5 nm have been investigated. Based on the thorough examination of the M(H) magnetization curves measured in pulsed fields of up to 250 kOe, a model of the magnetic state of NiO nanoparticles of such a small size has been proposed. The average moment is ~130 μB (μB is the Bohr magneton) per particle, which corresponds to 60–70 decompensated spins of nickel atoms localized, according to the Néel hypothesis (μun~ 3/2), both on the surface and in the bulk of a particle. A part of the surface spins unrelated to the antiferromagnetic core form another subsystem, which behaves as free paramagnetic atoms. Along with the antiferromagnetic core, an additional linear-in-field contribution has been detected, which is apparently related to superantiferromagnetism, i.e., the size effect inherent to small antiferromagnetic particles.