Nanotechnology is a science that deals with the use of material at nanoscale (10-9 metre). Nanotechnology applies in dosage form design provide various advantages like increased solubility, enhanced dissolution rate, increased stability, increased bioavailability so rapid onset of action. It gives great opportunities in pharmaceutical field. There is tremendous potential and scope of nano based drug delivery system in near future. This review includes types of nanoparticles, nanotechnology in drug delivery system, their application, commercially available nanoparticles, current and future prospective of pharmaceutical nanotechnology.