Nanoencapsulation is being thoroughly investigated for the encapsulation and delivery of actives and/or contrast agents. Our approach allows for better solubilization, protection, transportation, and delivery of encapsulated molecules to their biological site of action. This is expected to increase treatment efficiency while reducing possible side effects through dose reduction and/or targeted delivery. Among other nanocarriers, lipid nanoparticles are biocompatible, biodegradable, can be easily produced by up-scalable processes and, depending on the lipid physical state, may allow control of the release of encapsulated molecules. This chapter will explain how nanoemulsions can be efficiently used as nanocarriers for drug delivery and imaging. We will first emphasize the importance of specific formulation to reach long-term physical stability of the nanoparticles in simple and more complex formula. We will then highlight how the lipids' physical state dramatically impacts the actives encapsulation and release behaviors. Finally, we will explore the interaction of nanoemulsion with biological media in terms of biocompatibility and targeting possibilities. Differences between the two main application domains envisaged, namely pharmaceutics and cosmetics, are detailed, and implications for nanoemulsion preparation are discussed.