The development of novel nanomaterials and their use in biomedicine has received much attention in recent years. Significant advances have been made in the synthesis of nanomaterials with controlled geometry, physicochemical properties, surface charge, and surface tailoring with bioactive polymers. These successful efforts have resulted in improved biocompatibility and active targeting of tumour tissues, leading to the development of a diverse range of nanomaterials that can recognize cancers, deliver anticancer drugs and destroy tumours by a variety of therapeutic techniques. The focus of this review is to provide an overview of the nanomaterials that have been devised for the detection and treatment of various types of cancer, as well as to underline the emerging possibilities of nanomaterials for applications in anticancer therapy.