Nanotechnology is fast gaining popularity and attention of scientists and research groups worldwide as a promising tool for remediation of polluted and contaminated wastewater. Compared to conventional tools for bioremediation, nanomaterials offer faster and higher efficiencies due to their small size (>100 nm) owing to which they possess high surface/volume ratio that confers to them to be effective adsorbent/absorbate mechanisms as studied in experiments using ferrite nanoparticles for adsorbing heavy metals. They also help remediate wastewater by photocatalysis. Nanomaterials are excellent for removal of heavy metals from effluents as they have a large surface area for adsorption. Carbon nanotubes offer superior filtration rates compared to macromolecular osmosis filters. Gold and silver nanoparticles have been effectively used for remediation of wastewater owing to its antibacterial action causing lysis of pathogenic cells, antioxidant action, detection of heavy metals, adsorption of synthetic dyes (e.g methylene blue and congo red). Many limitations of conventional methods have been effectively overcome by nanotechnology which has opened many avenues in the field of environmental management. Nanoparticles can be recovered post-remediation of polluted sites and hence by recycling long-term cost is lowered making nanotechnology economical for researchers. Nanoparticles exploit various mechanisms for their high speed of catalytic action and absorption, which makes them indispensable towards the developing cause of water sanitation.