There has been an extensive investigation in the field of optical applications of nanocomposite materials. To prepare photosensitive nanocomposites, an optically functional phase is embedded in a transparent, processable matrix. This provides the opportunity to utilize the optical properties in other forms including fibers and films, which are more technologically important. Due to expansion of optical materials applications, novel transparent materials and optically functional are required. Recent optical nanocomposites and their applications in different areas especially catalysis and drug delivery have been addressed in this paper.