Nanoparticles are sub-nanosized colloidal structures composed of synthetic or semi-synthetic polymers that can be used for drug delivery. They have a size range of 10-1000nm. Nanoparticles have several advantages like high drug carrying capacity, ability to sustain drug release, and increased drug shelf stability. Common preparation methods include emulsion solvent evaporation, double emulsion evaporation, salting out, emulsion diffusion, and solvent displacement. Nanoparticles find applications in targeted drug delivery through encapsulation and directing drugs to tissues using magnetic fields. They are being explored for drug delivery to the brain, eyes, and oral delivery of peptides.