This paper reviews the vibrant field of nonlinear optical (NLO) properties of metal oxide nanoparticles and nanocomposites. It includes a historic introduction which discusses the birth and successive developments of NLO. An attempt is made to give a summary in a nutshell about the basic concepts of nonlinear optics and different NLO phenomena with special attention to third-order phenomenon and [Formula: see text]-scan technique. The review also touches on the topic of science and technology of metal oxide nanoparticles and nanocomposites, various synthesis processes that include co-precipitation, micro-emulsion, sol–gel route, etc. have been discussed. Metal oxide nanoparticles and nanocomposites are introduced with a deep focus on the origin of various physical mechanisms and optical properties. The origin of NLO properties from these important structures has also been discussed. Some recently studied metal oxide nanocomposites along with their NLO coefficients are also given.