Water pollution has caused the ecosystem to be in a state of imbalance for a long time. It has become a major global ecological and environmental problem today. Solving the potential hidden dangers of pollutants and avoiding unauthorized access to resources has become the necessary condition and important task to ensure the sustainable development of human society. To solve such problems, this review summarizes the research progress of nanomaterials in the field of water aimed at the treatment of water pollution and the development and utilization of new energy. The paper also tries to seek scientific solutions to environmental degradation and to create better living environmental conditions from previously published cutting edge research. The main content in this review article includes four parts: advanced oxidation, catalytic adsorption, hydrogen, and oxygen production. Among a host of other things, this paper also summarizes the various ways by which composite nanomaterials have been combined for enhancing catalytic efficiency, reducing energy consumption, recycling, and ability to expand their scope of application. Hence, this paper provides a clear roadmap on the status, success, problems, and the way forward for future studies.