The growing population and the unpalatable ecological impact of exploration and utilization of fossil-based fuels have resulted in increased demand for biofuel as an alternative fuel for engines and power generation. The global demand for biodiesel, a prominent member of the biofuels family, has continued to increase over the past decades with researchers devising various means to intensify cost-effective production. The use of metal oxide nanocatalysts is one of the feasible strategies to meet the increased demand for quality biodiesel. This study reviews the recent advances in the deployment of commonly used metal oxide nanoparticles such as MgO, CaO, TiO2, ZnO, and ZrO2 to accelerate sustainable biodiesel production. Converting conventional metal oxide heterogeneous catalysts into nanoparticles enhances the surface configuration, chemical and thermal stability, porosity, and crystallinity of the nanocatalysts. The deployment of metal oxide nanocatalysts hasten the transesterification reaction, reduces reaction temperature and time, and enhances biodiesel yield. Biodiesel synthesized with the aid of metal oxide nanoparticles is of impeccable quality and meets international standards. Notwithstanding the few challenges, the application of metal oxide nanoparticles as heterogeneous catalysts engenders sustainable biodiesel production and contributes to energy security. More innovative and collaborative studies are needed to reduce the ethical, economic, infrastructural, and environmental consequences of the usage of nanomaterials for sustainable biodiesel production.