In this review work, the recent progress made in the use of nanofluids (NFs) applied in three specific areas will be presented: machining, solar energy, and biomedical engineering. Within this context, the discussions will be guided by emphasizing the thermal and stability properties of these fluids. In machining, NFs play a prominent role in the processes of turning, milling, drilling, and grinding, being responsible for their optimization as well as improving the useful life of the tools and reducing costs. In the solar energy field, NFs have been used in the thermal management of the panels, controlling and homogenizing the operating temperature of these systems. In the biomedical area, the advantages of using NFs come from the treatment of cancer cells, the development of vaccines before the improvement of diagnostic imaging, and many others. In all lines of research mentioned in this study, the main parameters that have limited or encouraged the use of these fluids are also identified and debated. Finally, the discussions presented in this review will inspire and guide researchers in developing new techniques to improve the applications of NFs in several fields.