Due to their excellent catalytic activities, cerium oxide nanoparticles have promise as biological nanoenzymes. A redox reaction occurs between Ce 3+ ions and Ce 4+ ions during which they undergo conversion by acquiring or losing electrons as well as forming oxygen vacancies (or defects) in the lattice structure, which can act as antioxidant enzymes and simulate various enzyme activities. A number of cerium oxide nanoparticles have been engineered with multienzyme activities, including catalase, superoxide oxidase, peroxidase, and oxidase mimetic properties. Cerium oxide nanoparticles have nitric oxide radical clearing and radical scavenging properties and have been widely used in a number of fields of biology, including biomedicine, disease diagnosis, and treatment. This review provides a comprehensive introduction to the catalytic mechanisms and multiple enzyme activities of cerium oxide nanoparticles, along with their potential applications in the treatment of diseases of the brain, bones, nerves, and blood vessels.