Polymeric materials, despite their many undeniable advantages, nowadays are a major environmental challenge. Thus, in recent years biodegradable polymer matrices have been widely used in various sectors, including the medicinal, chemical, and packaging industry. Their widespread use is due to the properties of biodegradable polymer matrices, among which are their adjustable physicochemical and mechanical properties, as well as lower environmental impact. The properties of biodegradable polymers can be modified with various types of nanofillers, among which clays, organic and inorganic nanoparticles, and carbon nanostructures are most commonly used. The performance of the final product depends on the size and uniformity of the used nanofillers, as well as on their distribution and dispersion in the polymer matrix. This literature review aims to highlight new research results on advances and improvements in the synthesis, physicochemical properties and applications of biodegradable polymer matrices modified with metal nanoparticles and metal oxides.