Carbon-based nanomaterials, such as carbon nanotubes, graphene, and fullerene, have gained prominence due to their exceptional thermal conductivity and stability, making them ideal for enhancing heat transfer in various fluids. This study explores the synthesis methods, thermal properties, and potential benefits of these nanofluids in practical applications. Additionally, it addresses the challenges associated with their dispersion stability and the need for cost-effective, scalable production techniques. The study also covers recent advancements in experimental and theoretical studies, providing insights into the mechanisms behind improved thermal performance. By enhancing heat transfer efficiency, rheological characteristics and these nanofluids hold promise for applications in cooling systems, energy storage, and electronic devices, contributing to the advancement of thermal management technologies.