The transition between nanometre-scaled diamond and graphite as well as the
corresponding thermodynamic functions are discussed based on the temperatu
re-pressure phase diagram of carbon including the contribution due to surfa
ce effects. As a result, the equilibrium transition size between diamond an
d graphite as a function of temperature and the thermodynamic function for
the transition are obtained. It is found that as the size and temperature d
ecrease, diamond becomes more stable than graphite. The obtained result is
consistent with the reported experimental results on the chemical vapour sy
nthesis of nanometre-sized diamond under ambient pressure.