Cancer remains a major global health concern with high fatality rates despite the existing therapeutic approaches. Although chemotherapy, radiotherapy, and surgical resection have significantly lowered cancer mortality, the survival rate remains low as a result of their adverse effects, including hepatotoxicity, cardiac cytotoxicity, nephrotoxicity, gastrointestinal toxicity, myelosuppression, mucositis, neurotoxicity, and alopecia. Natural bioactive compounds (phytochemicals) have long been explored as potential reservoirs for new efficient anticancer components that can help reduce mortality rates. They exhibit extensive structural diversity and have shown promise in targeting cancer pathways, inducing cell cycle arrest, and promoting apoptosis in preclinical studies. However, their clinical application is hindered by significant limitations, including poor aqueous solubility, low bioavailability, low gastrointestinal tract stability, and rapid clearance from the bloodstream. Polymeric nanoparticles (PNPs) have emerged as a promising solution to overcome these limitations and offering efficient delivery of phytochemicals, with substantial entrapment capacity and stability, efficient controlled release, boosted bioavailability, and remarkable therapeutic efficiency. This review article provides an overview of commonly used biodegradable polymers and their classes for preparing PNPs loaded with natural phytochemicals together with their recent anticancer research findings. Moreover, this article highlights the importance of PNPs in facilitating the effective delivery of anticancer bioactive compounds, thereby enhancing their therapeutic response while reducing side effects.