Nanotechnology implies the scientific research, development, and manufacture, along with processing, of materials and structures on a nano scale. Presently, the contamination of metalloids and metals in the soil has gained substantial attention. The consolidation of nanomaterials and plants in ecological management has received considerable research attention because certain nanomaterials could enhance plant seed germination and entire plant growth. Conversely, when the nanomaterial concentration is not properly controlled, toxicity will definitely develop. This paper discusses the role of nanomaterials as: (1) nano-pesticides (for improving the plant resistance against the biotic stress); and (2) nano-fertilizers (for promoting the plant growth by providing vital nutrients). This review analyzes the potential usages of nanomaterials in agroecosystem. In addition, the adverse effects of nanomaterials on soil organisms are discussed. We mostly examine the beneficial effects of nanomaterials such as nano-zerovalent iron, iron oxide, titanium dioxide, nano-hydroxyapatite, carbon nanotubes, and silver- and copper-based nanomaterials. Some nanomaterials can affect the growth, survival, and reproduction of soil organisms. A change from testing/using nanomaterials in plants for developing nanomaterials depending on agricultural requirements would be an important phase in the utilization of nanomaterials in sustainable agriculture. Conversely, the transport as well as ecological toxicity of nanomaterials should be seriously examined for guaranteeing its benign usage in agriculture.