Asthma is a heterogenous chronic lung disease that affects nearly 340 million people globally. Airway hyperresponsiveness, remodeling (thickening, fibrosis), and mucus hypersecretion are some hallmarks of asthma. With several current treatments having serious side effects from long-term use, and a proportion of patients with uncontrolled asthma, there is urgent need for new therapies. With increasing understanding of asthma pathophysiology, there is a recognized need to target therapies to specific cell types of the airway which necessitates identification of delivery systems that can overcome increased mucus and thickened airways. Nanoparticles (NPs) that are highly customizable (material, size, charge, surface modification) are a potential solution for delivery systems of a wide variety of cargoes (nucleic acids, proteins, and/or small molecules), as well as sole therapeutics for asthma. However, there is need to consider the safety of the NPs in terms of potential for inflammation, toxicity, non-specific targets, and accumulation in organs. Ongoing clinical trials using NPs, some FDA-approved for therapeutics in other diseases, provide confidence regarding potential safety and efficacy of NPs in asthma treatment. This review highlights the current state of the use of NPs in asthma, identifying opportunities for further improvements in NP design and utilization for targeting this chronic lung disease.