Biodegradable polymers have been studied as scaffolds for bone tissue engineering applications. However, they possess insufficient mechanical properties to be considered as alternatives at sites of increased mechanical loading. To improve their mechanical properties, reinforcing with nanotubes has been investigated, as they reproduce the structure and length scale of bone native topography. The research advances in the use of nanotubes as reinforcing agents in developing nanocomposites with synthetic and natural biodegradable polymers are reviewed. The extent of mechanical reinforcement of the polymers and the corresponding biological response of the nanocomposites are presented.