Over the last 2 decades, the use of nanoparticle imaging has been investigated extensively for both diagnosis and therapy of prostate cancer. This review discusses the various classes of nanoparticles currently in clinical use or at the advanced preclinical stage. In particular, we focus on the unique properties of nanoparticles, as a group, that make them suitable for imaging and therapy. The characteristics of each nanoparticle are detailed. Iron oxide nanoparticles, extensively used for MRI of prostate cancer, are discussed in depth.