Alzheimer’s disease (AD) is one of the major public health problems, seriously affecting millions of older people worldwide. The studies related to clinical trials of drugs in patients with AD have focused on the development of drugs augmenting the level of neurotransmitter Acetylcholine ((ACh)) in the brain to compensate for the loss of cholinergic function. Amongst these drugs, acetylcholine precursors, muscarinic agonists, nicotinic agonists and choline esterase inhibitors have extensively been studied in patients with AD and the successful approach to treat this disease have employed Acetylcholinesterase (AChE) inhibition. The presently available treatments of AD have been often found to be unsatisfactory as available drugs are only symptomatic and do not alter the course or progression of the underlying disease and produce adverse reactions in patients. Herbal remedies for AD have become more and more popular in recent years and have drawn considerable attention of the scientific community because there is a possibility to slow down the brain’s degeneration caused by AD. Nanotechnology-based interventions have opened an exciting area via theranostics of AD in terms of tailored nanomedicine, which are able to target and deliver drugs across the BBB. The exciting interface existing between herbal plants and nanotechnology is an emerging marvel in medicine which has delivered promising results in the treatment of AD. In order to assess the potential applications of the herbal plants, their derived components and various nano-medicinal approaches, a review of literature was deemed as necessary. In the present review, numerous phytochemicals and various feats in nanomedicine for the treatment of AD have been discussed. Furthermore, recent trends in nanotechnology such as green synthesis of metal nanoparticles with reference to the treatment of AD have been elaborated. Foreseeing the recent progress, we hope that the interface of medicinal plants and nanotechnology will lead to highly effective theranostic strategies for the treatment of AD in due course of time.