Abstract: Water soluble graphene oxide nanoparticles (GO) are provided having graphene sheets containing carboxylic and hydroxyl groups. The diameter of the GO when present in a closed form range from about 40 nm to 120 nm. Eco-friendly methods are provided for producing the GO. Methods for reversible encapsulation of a molecule within water soluble carbon nanoparticles (wsCNP) including the GO nanoparticles are provided that allow for delivery of the wsCNP loaded with therapeutic and/or imaging agents to a subject in need by releasing the therapeutic/imaging agent upon an increase in pH above about 7.2. The wsCNP have been shown to cross the blood brain barrier in a mouse model of vascular dementia, and methods are provided for delivering the wsCNP loaded with a therapeutic and/or imaging molecule to the brain.