Water comprises an integral component of human life and its accessibility is essential for all life in the entire planet. Due to climate changes and other manmade activities, the world is facing shortage of drinking water. There are a number of pollutants present in the water such as gases, chemicals and heavy metals. Therefore, it is imperative to decontaminate water for a healthy planet. There are numerous problems and challenges of wastewater treatment. For better ecological and health issues some measures are required to take in advance to avert possible evil or to secure good results. Metal-based nanomaterials have found exceptional use in the decontamination purpose due to their nature which arises from nanosize, such as better adsorption and catalytic activity. Metal-based nanomaterials can productively remove different contaminants from water and they have been effectively applied in decontamination of water. Due to having larger surface area and having ability to work at low concentration these metal-based nanomaterials are very efficient in wastewater treatment. Nanoengineered nanoparticles impart a promising and effective treatment method to wastewater and thus can be adapted simply. Modern techniques for treatment of wastewater must be cost-effective and accessible for commercial use. In this chapter, we outline the role of metal-based nanoparticles and nanocomposites applied in water decontamination. Moreover, we discuss the advantages, disadvantages, shortcomings and future prospects associated with these nanomaterials.