Sintering and nanostability (defined as the stability against sintering) are critical phenomena present in the processing and application of nanoparticles. With important implications in obtaining high-quality dense ceramics with fine grains or in enabling high surface areas in nanoparticles for catalytic applications, the control of these interrelated phenomena has been the focuses of several studies. From a thermodynamic perspective, it is recognized that surface energy is a fundamental parameter in both cases, since it is the main driving force for sintering and also the reason that nanoparticles are thermodynamically unstable and have the tendency to coarsen at elevated temperatures. The role of grain-boundary energies is less recognized as relevant, but is also connected to densification, grain growth, and nanoparticle stability. In this paper, we review the critical aspects of the role of interfacial energies in the microstructure evolution, in particular addressing them as parameters to allow better control in addition to more conventional kinetic parameters. The concept is based on the nonsingularity of interfacial energies in a given system, which varies with temperature, atmosphere, and most importantly, chemical composition-this last offering a method to induce particular microstructural evolutions. While the model assumes isotropic grain boundaries but consequences to anisotropy are also discussed. The paper presents examples of the role of dopants on interfacial energies, how this is quantitatively related to their segregation at the interfaces, and the impact in sintering and nanostability. Given the importance of interface energetics to these phenomena, we also present a short review on the current methods used to obtain reliable interface thermodynamic data.