Research and development in chemical engineering is currently focused on design of highly active and selective catalytic systems for process intensification. In recent years, there has been growing interest in the use of catalysts based on nanosized metal particles to improve catalytic processes. Among the many metal catalysts, platinum group metals (PGMs) have received greater attention because of their physical and catalytic properties. They have found applications in a wide range of chemical conversion and environmental decontamination reactions due to their chemical stability and enhanced catalytic reactivity in the nano range. This chapter reviews some of the major innovative applications of PGM nanocatalysts for catalytic environmental decontamination.