Background: Diabetes neuropathy is a frequent ailment that has a substantial impact on patients by increasing the risk of falls and causing discomfort. The lower extremities are where diabetic neuropathy patients first feel pain. This discomfort could seem like a pinprick, an electric shock, or something else. Objective: Here, we give a comprehensive overview of this quickly developing theranostic appli-cation that includes all relevant imaging, diagnostic, therapeutic, and monitoring elements for the management of diabetes and diabetes neuropathy. Methods: The data for the current study was gathered by searching PubMed and Google Scholar. Several research and review publications from various publishers, including Springer Nature, Bentham Science, PLOS one, MDPI, and ACS Publishing Centre, were evaluated to compile the data. Result: Recent developments in theranostics have shown promise as alternate management ap-proaches for diabetes and ailments linked to diabetes. Numerous nanotechnology-built biosen-sors, including multiwalled carbon nanotubes, copper nanowires, zinc oxide tetrapods, and nano-particle-embedded contact lenses, offer benefits in monitoring diabetic neuropathy. Conclusion: The potency, usability, and dependability of insulin substitutes have been demon-strated by a variety of innovative methods for the management of diabetes, which includes nano-technology approaches using Gene-Based Nanoparticles (siRNA), Liposomes, Exo-somes/Extracellular Vesicles, Neuromodulation, and Inhalable Nanoparticles. Over the past few years, the development of various theranostic nanoparticles for Diabetic neuropathy has experi-enced an unprecedented expansion. Even though much work needs to be done to precisely evalu-ate the genuine benefits provided by these particles, such as issues with nanotoxicity, theranostic nanoparticles will have a significant impact on the field of nanomedicine.