For hundreds of years, hydrocarbons have been the primary source of energy for civilizations, and they continue to be essential for carrying out daily tasks throughout all spheres of the society. By 2050, there will be 9.8 billion people on the planet, a huge rise in population that will necessitate a rising supply of energy for a sustainable future. Global gas and oil production can help meet this demand for the foreseeable future. Lately, nanotechnology has shown the promise in all industrial sectors thanks to nanoparticles for their special qualities, such as large surface area, adsorption potential, and heat conductivity, all within a scale range of 1 to 100 nm. In light of this, nanoscale materials, including nanocomposite, have the potential to significantly enhance both the upstream and downstream processes of the gas and oil industry. The drilling process is envisaged to benefit through the addition of nanomaterials in the form of nanofluids in drilling fluids that are a quintessential part of energy, oil and gas, renewable energy, and mineral exploration processes. This study reviews the effect of several nanoparticles (NPs) that have been applied to improve the performance of drilling fluids. The study elaborates on the effect of the application of NPs in drilling in terms of rheology, fluid loss control, formation damage, and wellbore stability, among other aspects. This review article intends to deepen the quantitative outcome due to the addition of various metal oxide NPs, SiO 2 NPs, and their nanocomposites, graphene, carbon nanotubes, nanopolymers, and various other emerging nanomaterials in different waterbased, oil-based, and synthetic-based drilling fluids. This investigation, hence, presents a holistic fundamental understanding of nanoparticle-based drilling fluids.