Nanotechnology has been widely used in many fields including in soil and groundwater remediation. Nanoremediation has emerged as an effective, rapid, and efficient technology for soil and groundwater contaminated with petroleum pollutants and heavy metals. This review provides an overview of the application of nanomaterials for environmental cleanup, such as soil and groundwater remediation. Four types of nanomaterials, namely nanoscale zero-valent iron (nZVI), carbon nanotubes (CNTs), and metallic and magnetic nanoparticles (MNPs), are presented and discussed. In addition, the potential environmental risks of the nanomaterial application in soil remediation are highlighted. Moreover, this review provides insight into the combination of nanoremediation with other remediation technologies. The study demonstrates that nZVI had been widely studied for high-efficiency environmental remediation due to its high reactivity and excellent contaminant immobilization capability. CNTs have received more attention for remediation of organic and inorganic contaminants because of their unique adsorption characteristics. Environmental remediations using metal and MNPs are also favorable due to their facile magnetic separation and unique metal-ion adsorption. The modified nZVI showed less toxicity towards soil bacteria than bare nZVI; thus, modifying or coating nZVI could reduce its ecotoxicity. The combination of nanoremediation with other remediation technology is shown to be a valuable soil remediation technique as the synergetic effects may increase the sustainability of the applied process towards green technology for soil remediation.