Liquid crystal (LC) is a fascinating state of matter that combines order and mobility at multiple hierarchical levels, spanning from nanoscale to the macroscale, or from molecular to the macroscopic, and is composed of molecules and layers as thin as of a few nanometer in size. This unique combination allows such a system to adapt to a wide range of external stimuli, including temperature, magnetic field, electric field, mechanical stress, light, chemical reaction, and electrochemical response, by determining a new lowest energy configuration. Liquid crystalline nanostructures efficiently transmit and amplify information and attributes over macroscopic sizes due to their dynamic nature. The responsiveness and diversity of LCs provide enormous potential and challenges for fundamental scientific insights as well as opening the door to countless applied applications. Recent breakthroughs in nanotechnology have boosted the discipline, both in terms of theoretical simulations and the ability to fabricate nanoscale structures such as sub-wavelength gratings, nanoporous materials, and nanoparticles. Because LC materials are switchable, a new family of active plasmonic and nanophotonic devices is emerging, describing fascinating basic research processes as well as the creation of upgraded devices. This chapter discusses the fundamentals, computational advances, future prospects and challenges, as well as potential applications of LCs.