Water pollution remains one of the greatest challenges in the modern era, and water treatment strategies have continually been improved to meet the increasing demand for safe water. In the last few decades, tremendous research has been carried out toward developing selective and efficient polymeric adsorbents and membranes. However, developing non-toxic, biocompatible, cost-effective, and efficient polymeric nanocomposites is still being explored. In polymer nanocomposites, nanofillers and/or nanoparticles are dispersed in polymeric matrices such as dendrimer, cellulose, resins, etc., to improve their mechanical, thermophysical, and physicochemical properties. Several techniques can be used to develop polymer nanocomposites, and the most prevalent methods include mixing, melt-mixing, in-situ polymerization, electrospinning, and selective laser sintering techniques. Emerging technologies for polymer nanocomposite development include selective laser sintering and microwave-assisted techniques, proffering solutions to aggregation challenges and other morphological defects. Available and emerging techniques aim to produce efficient, durable, and cost-effective polymer nanocomposites with uniform dispersion and minimal defects. Polymer nanocomposites are utilized as filtering membranes and adsorbents to remove chemical contaminants from aqueous media. This study covers the synthesis and usage of various polymeric nanocomposites in water treatment, as well as the major criteria that influence their performance, and highlights challenges and considerations for future research.