Yttrium aluminum garnet (YAG) (chemical composition Y3Al5O12) is a well-known host material for obtaining highly efficient luminescent materials (phosphor) that offer unprecedented applications in the science and technology community. The structure of Y3Al5O12 permits facile doping of lanthanide ions, leading to the formation of different compositions possessing emission properties in a wide range (ultraviolet–near infrared). The ease of emission tuning and high chemical stability of YAG hosts lead to their wide applicability in various applications, including lasers, biomedical theranostic platforms, thermoluminescence dosimetry, nanothermometry, and long persistent luminescence. We present an overview of YAG-based nanophosphors and their synthesis pathways-related morphology and luminescence properties. In addition, we explore various fields where the YAG-based nanophosphors have been implemented, and also discuss their possible future applications.