The US National Nanotechnology Initiative (NNI) defines nanotechnology as "the understanding and control of matter at dimensions between approximately 1 and 100 nm, where unique phenomena enable novel applications." Recent scientific reports available in the literature clearly demonstrate the potential benefits of nanotechnology in consumer and industrial products. More and more nanomaterials are expected to be used in consumer products. This is expected to lead to increased human exposure to nanomaterials in their daily lives. Therefore, the effect of nanomaterials present in human environment is an area of increasing scientific interest. The information presented in this review is obtained from the current literature. It indicates that nanomaterials found in human environment may have potential for toxicological effects. However, the current literature on toxicological effects of nanomaterials is diverse. The current data are presented from studies without harmonization. These studies have used different in vitro and in vivo test models, different sources of test nanomaterials, different methods for nanomaterial characterization, and different experimental conditions. Therefore, these data are hard to interpret. More research on nanomaterial characterization, biological interaction, toxicity, and health effects is needed. The test methods need to be validated. Positive and negative controls for nanotoxicity need to be identified. Toxicity data harmonization needs to be done. Therefore, general information is not currently available for risk evaluation of certain nanomaterials that might be present in consumer products or that may enter into the market in future. Standardized and validated methods are necessary for toxicity assessment of nanomaterials. Therefore, in the absence of standardized validated methods any specific regulatory testing requirements for nanomaterials are currently premature. We conclude that the benefits of nanomaterials found currently in human environment are many, but their overall adverse effects on human health are limited.