Critical-sized bone defects have, in many cases, posed challenges to the current gold standard treatments. Bioactive glasses are reported to be able to stimulate more bone regeneration than other bioactive ceramics; however, the difficulty in producing porous scaffolds made of bioactive glasses has limited their extensive use in bone regeneration. On the other hand, calcium phosphate ceramics such as synthetic hydroxyapatite and tricalcium phosphate are widely used in the clinic, but they stimulate less bone regeneration. This paper gives an overview of the recent developments in the field of bioactive nanoparticles, with a focus on nanohydroxyapatite and bioactive glasses for bone repair and regeneration. First, a brief overview of the chemical structure and common methods used to produce synthetic nanohydroxyapatite and bioactive glasses has been presented. The main body of the paper covers the physical and biological properties of these biomaterials, as well as their composites with biodegradable polymers used in bone regeneration. A summary of existing challenges and some recommendations for future directions have been brought in the concluding section of this paper.