Internationally emerging energy trend, depletion of existing fossil fuel reserves along with growing population and alarming pollution all together has diverted the research towards the use of renewable fuels such as biodiesel. Biodiesel being eco‐friendly and climate neutral is a better alternative to vastly depleting petrodiesel fuels. Biodiesel is frequently produced by combining vegetable oil and alcohol with catalyst in a transesterification reaction. Catalyst is a key factor that is known to affect the kinetics and output of a transesterification reaction. Moreover, one of the most critical features of a catalyst‘s catalytic activity is the particle size. The present review is an account of the widely used heterogeneous nanocatalyst for biodiesel synthesis. Heterogeneous nanocatalyst are novel for FAME synthesis as they are economical, recyclable, reusable, readily available, active, selective, non‐corrosive, stable and conveniently separable. Metal oxide (MO), Nano ferrites, Nano zeolites, Nano hydrotalcite and Metal Organic Frameworks (MOFs) based heterogeneous nanocatalyst and their reusability have been discussed. Critical factors like time duration, alcohol‐to‐oil ratio, reaction temperature, intensity of mixing, catalyst loading etc. have also been accounted in this review.