Since last decade, the interdisciplinary research of Nanoemulsions (NEs) have gained great attention in research and drug designing owing to their promising range of applications in the field of pharmaceutics, drug delivery through different route, cosmetics, to name a few. In addition to the small droplet size these non-equilibrium liquid systems have interesting properties including optical clarity, preparatory ease, thermodynamic stability, high bioavailability, resistant to creaming, flocculation, coalescence and sedimentation, low viscosity and increased surface area, among others. Due to these peculiar properties, NEs have become an authentic tool in the drug delivery system. This article pertains to the types of NEs, characterization techniques, different methods of preparation of stable NEs with special emphasis on the various routes by which drug formulated NEs can be administered. Recent advancements of the fascinating applications of NEs in the delivery of the usually hydrophobic drugs and other bio actives/biotechnology, pharmaceutical ingredients are highlighted.