In recent years, nanotechnology has become one of the most important and exciting forefront fields in physics, chemistry, engineering, and biology. It shows great promise for providing us in the near future with many breakthroughs that will change the direction of technological advances in a wide range of applications. The present paper aims to review the previous work is done and recent enhancement in the field of nanotechnology. History of nanotechnology, methods of making nanomaterials, risks involved in using Nanotechnology have been reported. Various applications of nanotechnology are also discussed as this technology has enormous potential to contribute to significant advances over a wide range of technological areas.