The field of reusable nano‐catalysts has grown rapidly over the last decade. Recently, transition metal catalysed organic reactions have attracted considerable interest from the pharmaceutical and organic chemistry fields. Synthetic procedures based on such heterogeneous nanocatalysts are easier, less expensive, non‐toxic, and eco‐friendly, producing only the most desirable products in higher yields and allowing for easy catalyst separation. Heterogeneous nano‐catalysts were highly preferred over homogeneous catalysts for the synthesis of heterocyclic compounds due to their effective separation processes for both products and catalysts. According to recent studies, nanoparticles (NPs) are commonly used as a heterogeneous catalyst in the production of heterocyclic compounds. Heterogeneous catalysts are widely used in a variety of organic reactions due to their high surface‐to‐volume ratio. Most importantly, after the reaction is complete, easy magnetic separation of the catalyst minimises the requirement for catalyst filtration. Additionally, magnetic NPs, particularly supported magnetic nanocatalysts, have garnered considerable interest in both academic and industrial research due to their effectiveness as alternatives to traditional materials, their ease of separation via an external magnet, and their high degree of chemical stability in a variety of organic and inorganic solvents. To reach its depth, this review is focused on the most recent examples, their preparation, synthetic strategies and recycling studies of highly excited catalytic systems used for the synthesis of heterocyclic compounds.