Microreactor technology is a new concept of chemical synthesis for nanoparticle production. The "state of the art" in microreactor fabrication and its application to the synthesis of nanoparticles is reviewed. The microfluidic concepts, the materials and technologies for microreactor manufacture, with particular emphasis on polymers and microreplication techniques, and their application to the synthesis of various nanomaterials in microreactors are presented. The unique synthesis properties of various nanoparticles using a microfluidic process as well as broader impact in term of nanomaterials engineering, i.e., selectivity and monodispersity, reduced amount of chemicals, fast reaction, minimum cost, a better control of the process, minimum waste and reduced amounts of reaction byproducts and improved safety, are discussed in comparison with the traditional wet-chemical batch synthesis approach.