Despite exponential advancements in medical research, various types of cancer are increasing day by day and becoming a leading cause of mortality worldwide. The worldwide cancer burden has increased to 19.3 million new cases and 10 million cancer deaths in 2020. Changes in food habits, lifestyle, different types of food additives, synthetic chemicals, environmental pollutants, different types of radiation, and limited physical activities have led to a severe increment in this disease. Healthy nutritive foods and phytochemicals play an essential role in supporting the immune system, which is beneficial in combating various types of cancer. Phytochemicals are natural bioactive non-nutrient compounds derived from various plant sources, reducing the risk of major chronic diseases. It can be easily classified and categorized into different groups based on its chemical nature and mode of biological action. These bioactive compounds are effective against various types of cancers. Recently the role of several novel phytochemicals and nanoformulations has been explored and extensively applied in cancer therapeutics. This review provides insight into various traditional phytochemicals and novel nanoformulations used in cancer management.