Nanotechnology has vastly been investigated due to its potential to increase the field of biotechnology and medical advances. Though, regulatory agencies such as FDA oversee the emerging field of nanotechnology through legislative arrangements. Mechanistic knowledge of nanostructure material behavior in the human body, animals, and environment is significant. This paper investigated the role of nanotechnology and its relevant development and improvement in science. Likewise, it exposes or brings to the limelight the threats associated with nanoparticles and their application in various fields of study, most especially the alarming effects on humans, animals, and the environment when inhaled or consumed in the form of nano-medicine, food, etc