This article presents an extensive review on exergy analysis of nanofluid flow through heat exchanger channels. The improvement of exergy efficiency of nanofluid flow through heat exchanger are determined by the net impact of the relative variations in the thermophysical properties of the nanoparticle which are sensitive towards numerous parameters including size and shape, material and concentration as well as base fluid thermal properties. Exergy efficiency of nanofluids flowing through heat exchanger is greater as compare to simple conventional fluids. The augmentation of exergy efficiency in the nanofluid flow through heat exchangers can be achieved by breaking laminar sub layer near the heating surface and can be efficiently done by employing obstacle as roughness elements. However, this gain is accomplished at the expense of decrease in pressure drop. Also exergy efficiency found to be augmented with the rise of the volume fraction with reduction in the value of nanoparticle diameter.