Flavonoids represent a popular class of industrially important bioactive compounds. They possess valuable health-benefiting and disease preventing properties, and therefore they are an important component of the pharmaceutical, nutraceutical, cosmetical and medicinal industries. Moreover, flavonoids possess significant antiallergic, antihepatotoxic, anti-inflammatory, antioxidant, antitumor, antiviral, and antibacterial as well as cardio-protective activities. Due to these properties, there is a rise in global demand for flavonoids, forming a significant part of the world market. However, obtaining flavonoids directly from plants has some limitations, such as low quantity, poor extraction, over-exploitation, time consuming process and loss of flora. Henceforth, there is a shift towards the in vitro production of flavonoids using the plant tissue culture technique to achieve better yields in less time. In order to achieve the productivity of flavonoids at an industrially competitive level, elicitation is a useful tool. The elicitation of in vitro cultures induces stressful conditions to plants, activates the plant defense system and enhances the accumulation of secondary metabolites in higher quantities. In this regard, nanoparticles (NPs) have emerged as novel and effective elicitors for enhancing the in vitro production of industrially important flavonoids. Different classes of NPs, including metallic NPs (silver and copper), metallic oxide NPs (copper oxide, iron oxide, zinc oxide, silicon dioxide) and carbon nanotubes, are widely reported as nano-elicitors of flavonoids discussed herein. Lastly, the mechanisms of NPs as well as knowledge gaps in the area of the nano-elicitation of flavonoids have been highlighted in this review.