AbstractFundamental developments in nanotechnology have attracted the attention of scientists towards the interaction of nanoparticles due to their fascinating applications in thermal engineering and solar energy systems. Convinced by such motivating applications, the current research project addresses the utilization of nanoparticles in the unsteady three‐dimensional chemically reactive flow of an Oldroyd‐B fluid induced by a bidirectional oscillatory stretching surface. The effects of mixed convection are also considered here. The prime features of the nanofluid namely thermophoresis and Brownian motion characteristics are explored by introducing the famous Buongiorno's nanofluid model. The relevant equations for the formulated theoretical model have been reduced by the appropriate transformations for which the analytic solution is deliberated via the homotopic technique. Later on, a complete graphical analysis for distinct flow parameters is deliberated for dimensionless velocities, concentration, and temperature distributions with the relevant physical implications. Moreover, stimulating physical quantities like local Nusselt and Sherwood numbers are numerically calculated and discussed. The study emphasizes that decreasing variation in both components of velocities has been reported with an increment of relaxation time, while the impact of the retardation time constant is quite opposite. It is further claimed that the velocity distribution has an increasing tendency in the horizontal direction for a higher buoyancy ratio and mixed convection parameters. Moreover, an increment in thermophoresis parameter enhances both temperature and concentration distributions.