Sensing of chiral compounds has gained great attentions for many decades. Chiral nanomaterials with a greater surface area, optical properties, and stability have however not been well realized in this field. Herein, strategies for the preparation of chiral Ag and Au nanomaterials are focused upon, including Ag and Au nanoparticles conjugated with chiral molecules with/without containing fluorophores, chiral nanoassemblies of Ag and Au nanoparticles, and chiral Ag and Au nanoclusters. The chirality of nanomaterials originates from their core and/or ligand, meanwhile that for nanoassemblies results from their complex spatial configuration. An emphasis is given to circular dichroism, colorimetry/UV–vis absorption, and fluorescence detection modes for sensing enantiomers and achiral analytes using the chiral Ag and Au nanomaterials. Several interesting examples for quantitation of DNA, proteins, peptides, drugs, and pollutants are provided to highlight their potential as sensitive and selective nanomaterials for enantiomer recognition and sensing of achiral analytes. Several important issues to be solved when using chiral nanomaterials for chiral recognition are specified. Some strategies for improving the sensitivity and selectivity of chiral nanomaterials for chiral recognition are suggested. The aim is to bring more attention to the potential of chiral nanomaterials for sensing important analytes such as chiral drugs.