Due to special non-metallic polar bond between the III group (with certain metallic properties) element boron (B) and the V group element nitrogen (N), boron nitride (BN) has unique physical and chemical properties such as strong high-temperature resistance, oxidation resistance, heat conduction, electrical insulation and neutron absorption. Its unique lamellar, reticular and tubular morphologies and physicochemical properties make it attractive in the fields of adsorption, catalysis, hydrogen storage, thermal conduction, insulation, dielectric substrate of electronic devices, radiation protection, polymer composites, medicine, etc. Therefore, the synthesis and properties of BN derived materials become the main research hotspots of lowdimensional nanomaterials. This paper reviews the synthetic methods, overall properties, and applications of BN nanostructures and nanocomposites. In addition, challenges and prospect of this kind of materials are discussed.