The particles within the nanoregime are quite smaller (100- 10,000 times) than human cells but are comparable to that of biomolecules like enzymes and receptors. The nanoparticles smaller than 50 nm can easily pervade into most cells, and those particles smaller than 20 nm can easily escape into the circulation through the blood vessels. Nanoparticles are quite conducive to be fabricated appropriately to serve as a device/vehicles of important therapeutic genes or drugs specifically to the cancer cells avoiding any hazardous effects on the normal cells. This review encompasses the recent investigations employing nanocarriers like liposomes, micelles, carbon nanotubes, dendrimers, nanoshells that has been developed with positive results.The cancer therapeutic agents like Doxorubicin, Paclitaxel, Cystatin ,Small interfering RNA(SiRNAs) are encapsulated within these nanocarriers through the processes of entrapping, covalent binding, encapsulation or adsorption. Furthermore these nanoparticles were conjugated with cancer specific targetic ligands like Folic acid, Monoclonal antibody,Luteinising hormone releasing hormone(LHRH)peptide,etc which enable them to successfully deliver the therapeutic agents to the cancerous cells. Henceforth the development of these smart nanodevices will undoubtedly pave the way for coming up with future novel therapeutic strategies for combating the malignant cells circumventing any adverse side effects on the normal cells.