Atomic layer deposition (ALD) relies on self-limiting reaction within a cyclic process and is being considered as a potential technique for synthesizing nanomaterials with precisely controlled internal structure. Therefore, the design and synthesis of advanced ultrafine nanomaterials becomes feasible through a rigorous control over the morphology, micro-and nano-structure, composition, thickness and particle size. Currently, ALD is mostly adopted for semiconductor applications; however, several other areas (i.e. catalysis and energy storage) can hugely benefit from ALD capabilities if the process is finely tuned. In this review paper, significant previous works on ALD of nanomaterials have been discussed via focusing on the deposition of noble metals, metal oxides, two-dimensional materials and metal-organic frameworks on various substrates. Major contributing parameters (e.g. deposition temperature, ALD cycles, and type of the precursor) affecting the deposition process have also been covered. The review concludes with a summary of opportunities for future research to enable large-scale implementation of ALD as a reliable and robust technique for synthesizing nanomaterials.