The development of a vector for the delivery of therapeutic drugs in a controlled and targeted fashion is still a major challenge in the treatment of many diseases. The conventional application of drugs may lead to many limitations including poor distribution, limited effectiveness, lack of selectivity and dose dependent toxicity. An efficient drug delivery system can address these problems. Recent nanotechnology advancements in the biomedical field have the potential to meet these challenges in developing drug delivery systems. Nanomaterials are changing the biomedical platform in terms of disease diagnosis, treatment and prevention. Nanomaterials aided drug delivery provides an advantage by enhancing aqueous solubility that leads to improved bioavailability, increased resistance time in the body, decreased side effects by targeting drugs to the specific location, reduced dose dependent toxicity and protection of drugs from early release.