The purpose of this review article is to reflect the emerging importance of nanotechnology with emphasis on nanoparticles with a current research of scientific interest in biomedical, pharmaceutical, optical, biosensors and electronic areas. Nanoparticles are particles having a size range of 1 and 100 nanometers, defined as a small object behaving as a complete unit with respect to the drug transport and theraputic properties. Nanotechnology employing nanoparticles can be applied to any field of medicine, energy, electronics, manufacturing and materials, food agriculture, textiles, environment, renewable energy, quantum computers, UV protection and industrial catalysts. The nanoparticles are generally classified into the organic, inorganic and carbon based particles. Nanoparticles offer more effective and convinent routes of administration and used for drug delivery for treatment of cancer, diabeties, asthama and so on.