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Nanotechnology refers to the creation and utilization of materials whose constituents exist at the nanoscal and by convention by up to 100nm in size. NMs are categorized depending on their size, composition, shape and origin. Due to increased growth of production of NMs and their industrial application, issues relating to toxicity are inevitable. Additionally, the types of toxicity reaction associated with NPs and NSMs are also discussed. Several techniques are used for the preparation of nanoparticles like Dispersion of performed polymers, Polymerization of monomers and Ionic geleation or coacervation of hydrophilic polymers. Through nanotechnology we can achieve better therapeutic action, better bioavailability and better patient compliance. This review focuses on classification, method of preparation, application, advantages of nanoparticles and health perspectives and toxicity of nanoparticles. KEYWODS: Nanotechnology, NPs and NSMs. INTRODUCTION Nanoparticles (NPs) and nanostructured materials (NSMs) represent an active area of research and a techno-economic sector with full expansion in many application domains. NPs and NSMs have gained prominence in technological advancements due to their tunable physicochemical characteristics such as melting point, wet ability, electrical and thermal conductivity, catalytic activity, light absorption and scattering resulting in enhanced performance over their bulk counterparts. A nanometer (nm) is an International System of Units (Système international d'unités, SI) unit that represents 10−9 meter in length. In principle, NMs are described as materials with length of 1–1000 nm in at least one dimension; however, they are commonly defined to be of diameter in the range of 1 to 100 World Journal of Pharmaceutical Research SJIF Impact Factor 8.074 Volume 7, Issue 16, 1745-1759. Review Article ISSN 2277– 7105 Article Received on 18 July 2018, Revised on 08 August 2018, Accepted on 29 August 2018 DOI: 10.20959/wjpr201816-13310 *Corresponding Author Sachin Aglawe S.N.D. College of pharmacy, Babhulgaon, Yeola, Nashik,