During the past decades, neural interfaces have been widely applied in various fields, such as neural‐degeneration disease diagnosis and therapy, remote control, and mind‐based interaction with the outside world. The neural interfaces, as the foundation technologies for the bi‐directional communication between the brain and machines, are critical for the development of next generation implanted neural interfaces. Recently, plenty of micro‐ and nanostructured coating materials, together with various devices based on micro/nano fabrication, provide improved performances and novel functions to achieve more precise, chronic and better‐efficiency neural interfaces. In this paper, we review the development of different kinds of neural interfaces from the material and device perspectives. Some innovative functionalized techniques utilizing nanomaterials such as metallic nanostructures, carbon materials, conductive polymers (CPs) are reviewed. Additionally, novel implanted devices for neural signal recording and stimulation with improved or novel performances enabled by nanotechnologies are also presented. Finally, the potential challenges that hinder the development of neural interfaces and the opportunities for future research directions are discussed in brief.