The smallest particles known as nanoparticles have sizes between 1 and 100 nm, which in contrast to their bulk counterparts, possess special properties, including increased surface area, quantum confinement effects and optical, magnetic, catalytic features that are size-dependent. Several different materials possibly used to create nanoparticles, involving metals, ceramics, polymers, and metal oxides. Different biological, chemical, and physical characteristics are displayed by nanoparticles which make them appealing to numerous applications in industries like healthcare, electronic devices, energy and environmental remediation. In medicine, drug delivery with specificity is accomplished by nanoparticles, which improves treatment effectiveness while reducing side effects. This abstract investigates the characteristics and applications that contain nanoparticles, including their synthesis methods, characterization techniques and synergistic impact of hybrid nanoparticles on material characteristics. In order to ensure the safe and sustainable use of nanomaterials, responsible development and regulation of these substances are also discussed, along with challenges and opportunities within the discipline of nanotechnology.