The rapid development of medicine has forced equally rapid progress in the field of pharmaceuticals. In connection with the expensive and time-consuming process of finding new drugs, great emphasis is put on the design and use of metal and metal oxides nanoparticles in nanomedicine. The main focus is on comprehensive presentation of both physicochemical properties and the possibilities of using, in particular, silver (Ag) and gold (Au) nanoparticles, as well as zinc oxide (ZnO) and titanium oxide (TiO2) nanoparticles as drug carriers and in the treatment of cancer. An important element of this subject is the possibility of occurrence of toxic effects of these nanoparticles. For this reason, possible mechanisms of toxic actions are presented, as well as methods used to reduce their toxicity to ensure the safety of drug carriers based on these nanostructures.