Solubility proves to be a major hurdle for the successful development and commercialization of new drug products. Since 40% of the active substances being identified through the new paradigm in high – throughput screening are lipophilic. So, its viability as a potential new drug candidate reduces manifold. Because of this limitation, many pharmacologically active molecules have failed to reach the market. Therefore, Nanosuspensions have emerged as a promising strategy for the efficient delivery of hydrophobic drugs because of their versatile features and unique advantages. Techniques such as media milling and high pressure homogenization have been used commercially for producing nanosuspensions. Recently, the engineering of nanosuspensions employing emulsions and microemulsions as templates has been addressed in the literature. The unique features of nanosuspensions have enabled their use in various dosage forms, including specialized delivery systems such as mucoadhesive hydrogels. Rapid strides have been made in the delivery of nanosuspensions by parenteral, per-oral, ocular and pulmonary routes. Currently, efforts are being directed to extending their applications in site-specific drug delivery. The following work deals with the special features of nanosuspensions, the preparation methods, advantages of such methods, characterization of nanosuspensions, patents, marketed products and their applications for hoping to make easy, the future research in this area.