Nanoparticles are discrete entities identifiable by their sizes, which typically fall within the range of 1 to 100 nanometers, with at least one of their dimensions falling within this size range. These particles can be classified into three major categories, namely organic, inorganic, and carbon-based particles, displaying superior properties when compared to their larger materials. Due to their small size, nanoparticles exhibit enhanced characteristics, such as rapid chemical reactivity, robust mechanical strength, drastically increased surface area, remarkable sensitivity, and improved stability. The synthesis of nanoparticles has undergone remarkable advancements over time, employing diverse physical, chemical, and mechanical processes. These significant strides in methodologies have enabled precise control of nanoparticles, catering to both research and industrial needs, thereby expanding their potential applications. This review paper offers a comprehensive examination of nanoparticles, covering a wide array of nanoparticle types, their unique attributes, recent techniques for their synthesis, and their applications within the field of biomedical engineering.