In the past decade, nanostructured polypyrrole (PPy) has been widely studied because of its many specific properties, which have obvious advantages over bulk-structured PPy. This review outlines the main structures, preparation methods, physicochemical properties, potential applications, and future prospects of PPy nanomaterials. The preparation approaches include the soft micellar template method, hard physical template method and templateless method. Due to their excellent electrical conductivity, biocompatibility, environmental stability and reversible redox properties, PPy nanomaterials have potential applications in the fields of energy storage, biomedicine, sensors, adsorption and impurity removal, electromagnetic shielding, and corrosion resistant. Finally, the current difficulties and future opportunities in this research area are discussed.