Plasma-facing components (PFCs) are used as the barrier to the beam of high heat flux generated due to nuclear fusion. Therefore, efficient cooling of PFCs is required for safety and smooth operation of a fusion reactor. The Hyper Vapotron (HV) is generally used as the heat exchanger to cool down the PFCs during operation. These heat exchangers use pool and flow boiling mechanisms, and hence, their ability is inherently constrained by critical heat flux (CHF). The boiling of nanofluid is very promising as the working fluid in the HV. The efficiency of the HV increases due to the increase in CHF by applying nanofluids. However, the feasibility of nanofluid cooling in fusion reactors needs proper understanding. This paper reviews the recent developments in the utilization of boiling phenomena in nanofluid as a coolant in the HV. Experiments, theoretical studies, significant achievements, and challenges are analyzed and discussed. Finally, important points are indicated for future research.