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The review is devoted to the current state of research and advances in the production and study of the properties of detonation nanodiamonds (DND), their application in technology and medicine. New data on the theory and practice of DND synthesis for the last 1–5 years are considered and systematized. It is shown that the zone of chemical reactions (ZCR) during the blust of explosive materials (EM) is decisive for the fractal pre-diamond structure formation, the final region of the nanodiamonds (1/3–3/4 of the diameter of the explosive charge) formation is determined. The possibility of predicting the DND yield and the influence of parameters on the synthesis process of nanodiamonds from individual EMs of binary and ternary compositions is shown, their optimal formulations are determined. The optimal ZCR width and the existence time of chemical reactions have been identified. The dependence of the DND yield on the nitrogen content in the EM was shown. The most effective method of DND purification and the possibility of obtaining graphite-diamond compositions of a given formulation are presented. The most informative indicators of nanodiamonds characterization are given. The magnetic properties of nanodiamonds are considered and the identity of the properties of DNDs from different EMs is shown. The characteristics of new compositions based on DND are indicated: electrochemical coatings (gold and chromium-diamond), thermal pastes, diamond-containing polymer filaments for a 3D printer, fuel compositions, enterosorbents, compatible with biosystems of the nanodiamond-drug composition.