The main goal in the synthesis of nanomaterials is for their ultimate application in catalysts, medicines, nanodevices, nanoelectronics, or sensors [1 -6] . Literally tens of thousands of different methods have been reported for the synthesis of metallic nanoparticles, including chemical and physical methods for precious metal reduction. In recent years, however, the synthesis of metallic precious metal nanoparticles has taken a new turn to include biological synthesis or techniques using living and nonliving organisms and plant extracts [7 -9] . It has been well documented that many different plant, fungal and bacterial species have the ability to reduce precious metals ions in solution to form metallic nanoparticles [7 -9] . Hence, in this chapter we will discuss a variety of chemical and biological techniques used for the reduction of precious metals -such as gold, platinum, palladium and silver -to form nanomaterials. Details of the use of osmium, rhodium, ruthenium and iridium in the formation of metallic nanoparticles, employing biological materials, have been excluded from this chapter as no relevant citations could be identifi ed.In general, the synthesis of precious metal nanoparticles involves the use of a reducing agent and a protecting agent or surfactant to control nanoparticles growth and to provide a narrow nanoparticle size distribution. Many different chemicals have the ability to donate electrons in solution and thus induce the reduction of precious metal ions to produce metallic nanoparticles. For example, sodium borohydride, lithium hydride and hydroxylamine are all known to donate electrons to metal ions in solution to produce metallic nanomaterials [10 -13] . A number of different nanoparticles have also been synthesized using these techniques, including platinum, palladium, gold and silver [10 -17] . The following syntheses are commonly used to produce precious metal nanoparticles. For example, the synthesis of 5 nm platinum nanoparticles has been achieved through the use of hydrazine in ionic reversed micelle systems [18] . Alternatively, platinum nanopar-