In the last decades, extensive research has been carried out on the understanding and treatment of pancreatic cancer. Despite the significant advances in medicine and nanotechnology, there is an increasing concern about the lack of a standardized therapy with favorable outcomes for patients affected by this malignant disease, whose survival rates are nowadays far alarmingly low. The aim of this review is to offer a comprehensive view on the topic, by drawing upon two strands of research into pancreatic cancer. First, a detailed overview on the tumor genesis, progression, and resulting intricate microenvironment is presented. Thereafter, an extensive insight into the current treatments and their evolution throughout time, with a major focus on nanomedicine approaches, are offered to the reader. With respect to previous studies, a particular emphasis is given here to innovative theranostic approaches. In the light of what is now well established by recent evidence, the focus is given to multimodal treatments involving the combination of different therapies and, in particular, of nanoparticle‐based medicine. The challenging purpose is finally of shedding light on future ultimate treatments out of the currently followed well‐worn paths.