Bulk nanoSPD materials are materials with nanostructural features, such as nanograins, nanoclusters, or nanotwins, produced by severe plastic deformation (SPD) techniques. Such nanostructured materials are fully dense and contamination free and in many cases they have superior mechanical and functional properties. Here, we provide a critical overview of such materials, with a focus on the fundamentals for the observed extraordinary properties. We discuss the unique nanostructures that lead to the superior properties, the underlying deformation mechanisms, the critical issues that remain to be investigated, future research directions, and the application potential of such materials.