Nanoparticles are defined as particles with size in the range of 1 to 100 nm at least in one of the three dimensions. Because of this very small size scale, they possess an immense surface area per unit volume, a high proportion of atom in the surface and near surface layers, and the ability to exhibit quantum effect. Nanotechnology represents one of the most capable technologies of the 21st century. Solid lipid nanoparticles introduced in 1991 represent an alternative carrier system to traditional colloidal carriers such as emulsion, liposomes and polymeric micro and nanoparticles Nanotechnology is widely used in various cosmetic and dermatological products like lipsticks, soap, antiwrinkle cream, perfumes, toothpaste etc. Nanoparticles serve as the fundamental building block for various nanotechnology applications. Nanotechnology is one of the most capable techniques which are safe and effective for targeted drug delivery system. Nanoparticulate delivery system have been developed for good therapeutic effect with low toxicity Nanotechnology is concerned with development and utilization of structures and devices with development and utilization of structures and devices with organizational features at the intermediate scale between individual molecules and about 100 nm where nanoparticles occur as compared to bulk materials. The overall objective is to disseminate knowledge of the physical, chemical and biological phenomenon and processes in structures that have at least one length scale ranging from molecular to approximately 100nm (or submicron in some situations) and exhibit novel properties because of size. Use of carrier system in nanotechnology has added advantage of improved skin penetration, depot effect with sustained release drug action. As compared to conventional drug delivery system is more prominent and exhaustive. Nanotechnology has completely novel characteristic and application over others. Nanotechnology is a key technology leading to product innovation. Nanotechnologies use materials on an incredibly small scale so that they take on new properties compared to their larger form .The technology has the potential to transform many of the everyday consumer products that we use and wide range of product are already on the market. The focus of the article is on the specific properties, phenomenon and processes that are realized because of the nano size. Experimental and theoretical tool of investigation at nanoscale as well as synthesis, processing and utilization of particles and related nanostructure are integral part of this publication