The field of nanobiocatalysis has experienced a rapid growth due to recent advances in nanotechnology. However, biocatalytic processes are often limited by the lack of stability of the enzymes and their short lifetime. Therefore, immobilization is key to the successful implementation of industrial processes based on enzymes. Immobilization of enzymes on functionalized nanostructured materials could give higher stability to nanobiocatalysts while maintaining free enzyme activity and easy recyclability under various conditions. This review will discuss recent developments in nanobiocatalysis to improve the stability of the enzyme using various nanostructured materials such as mesoporous materials, nanofibers, nanoparticles, nanotubes, and individual nanoparticles enzymes. Also, this review summarizes the recent evolution of nanostructured biocatalysts with an emphasis on those formed with polymers. Based on the synthetic procedures used, established methods fall into two important categories: “grafting onto” and “grafting from”. The fundamentals of each method in enhancing enzyme stability and the use of these new nanobiocatalysts as tools for different applications in different areas are discussed.