Nutrient management is a very important practice for maintaining soil health and soil fertility. Enhancement of nutrient supplying capacity of soil should be main focus for getting sufficient production of agricultural as well as horticultural crop. Mostly chemical fertilizer is predominantly used to get nutrient to raise the plant in farmer’s field. But chemical fertilizers are not only costly for the producer, but may be harmful to humans and the environment. This has led to the search for eco-friendly fertilizers, particularly those with high nutrient-use efficiency as well as efficient nutrient releasing capacity. Nanotechnology is an emerging scientific tools which may act as alternative to the chemical fertilizer. Nanofertilizers (NFs) offer efficient nutrient management with maximum nutrient use efficiency (NUE) through slow release pattern and also minimize nutrient leaching into ground water table. NFs are performed well in abiotic stress and also help in phosphorus (P) solubilization with steady release of P into the soil. Nanobiofertilizers (NBFs) provide additional benefit in terms of NUE and good optimization of nutrient use to plant as well as soil microorganism. Although the benefits of NFs are undoubtedly opening new approaches towards sustainable agriculture, their limitations should also be carefully considered before market implementation. Excessive nanoparticles (NPs) loaded fertilizer may cause toxic effects to the environment and may pose a risk to the human body. In conclusion, taking all the precaution against the toxicity, before use NFs, a great and perfect opportunities to increase NUE and improved crop production, tends to develop a sustainable environment.