Nanomaterials have explored everywhere in the day-to-day technologies, for instance nano circuits in electronics, bio-implants in medicine, aeroplane spare parts, photography and most recently in additive manufacturing (3D Printing). Nanomaterials have also introduced into oil and gas industry and evidenced in many aspects of exploration, drilling, production, refining and distribution. Variety of material hierarchies like nanofluids, nanocatalysts, nanoemulsions and nanocoatings in the upstream, midstream and downstream have explored. It is worth noting that the nanoparticles can reduce the viscosity of oil, increase the mobility ratio, and alter the reservoir permeability. Depending on the operational conditions of EOR methods, some nanoparticles perform more effective than other methods and lead to differ in EOR. However, tertiary fluids used for recovery or EOR process interact with the reservoir rock/ oil system where we EOR techniques are receiving substantial attention. Current studies on nanomaterials are seen as potential solutions to most of the challenges associated with the traditional EOR techniques. In this review, a brief discussion on the most recent developments of EOR mechanisms by using nanoparticles, nanofluids, nanoemulsions, nanocatalysts and nanocoatings. This review discussion also extended to discuss about existing challenges and opportunities for the future applications of nanostructures in EOR methods.