A cost-effective and environmentally friendly method was developed for synthesizing zinc blende CdSe quantum dots (QDs), emphasizing the link between synthesis conditions and structural as well as physicochemical properties. The approach, based on homogeneous precipitation in a high-boiling solvent, ensures controlled nanocrystal growth while following green chemistry principles. Structural evolution studies revealed a transformation from cubic zinc blende to hexagonal phase. Particle sizes were estimated from XRD (Scherrer's formula), optical absorption (Brus equation), and validated by TEM. Notably, CdSe+ ions were detected in the vapor phase by mass spectrometry for the first time, offering insight into growth mechanisms. Systematic evaluation of synthesis parameters—temperature, precursor type, and fatty acid stabilizers—demonstrated strong effects on morphology, defect density, and luminescence efficiency. The method enables tunable control over QD size, shape, and surface states, leading to enhanced optoelectronic properties and significantly improved photovoltaic performance, underscoring its potential for applications in condensed matter and nanostructured materials.