Early detection and treatment is a successful method to fight against cancer. The use of conventional methods often limits the early-stage detection of the same. Nanotechnology, especially nanomedicine, has become an evolving field in research today. Nanoparticles, with their diverse application in medicine, have grown tremendously. Despite their physicochemical properties, the toxicity of nanoparticles in living organisms has helped the scientific community develop these nanoparticles for cancer treatment. In this review, we highlight the two different types of synthesis of nanoparticles: Top-down and Bottom-up approaches, many instances of various techniques and other inorganic nanoparticles that are good platforms for bioimaging and biosensing applications, drug delivery nanocarriers for specific tumor targeting, thereby reducing the toxicity to healthy tissues and Photodynamic therapy (PDT) and Photo Thermal Therapy (PTT), their mechanism and nanoparticles and examples of their surface functionalization used in cancer treatment.