Nitric oxide (NO), as a crucial signaling biomolecule, is closely involved in the cardiovascular, immune, and central nervous system. NO not only participates in the proliferation, differentiation, and activation of immune cells but also regulates the secretion and function of immune-related cytokines. Meanwhile, NO plays an important role in regulating diversified pathological processes, such as cancer, autoimmune disease, pathogenic infection, and so on. Therefore, the intensive immunological study of NO has been expected to provide valuable approaches to the clinical prevention and treatment of these related diseases. Since NO has a wide range of chemical activities and biological functions, the pleiotropic effects of NO are affected by its production, concentration and duration, target cell types and subtypes, species, and pathogenesis of the immune-related diseases. It is thus necessary to create and develop certain platforms of drugs and related preparations that can precisely regulate NO for immunotherapy. This review summarizes the regulatory functions exerted by NO in immune response, and the pathological mechanisms of tumor, autoimmune disease, and pathogenic infection in which NO is involved. The application and trend of therapeutic strategies based on the direct regulation of NO in immunotherapy are further discussed.