The lattice Boltzmann method (LBM) is used to examine free convection of nanofluids. The space between the cold outer square and heated inner circular cylinders is filled with water including various kinds of nanoparticles: TiO2, Ag, Cu, and Al2O3. The Brinkman and Maxwell-Garnetts models are used to simulate the viscosity and the effective thermal conductivity of nanofluids, respectively. Results from the performed numerical analysis show good agreement with those obtained from other numerical methods. A variety of the Rayleigh number, the nanoparticle volume fraction, and the aspect ratio are examined. According to the results, choosing copper as the nanoparticle leads to obtaining the highest enhancement for this problem. The results also indicate that the maximum value of enhancement occurs at λ = 2.5 when Ra = 106 while at λ = 1.5 for other Rayleigh numbers.