Due to the disadvantages of traditional EOR methods, such as low sweep efficiency, formation damage and poor environmental protection, nanotechnology has attracted great attention in improving oil recovery due to its cost-effectiveness and environmental protection. Common types of nanoparticles that can play an effective role in enhancing oil recovery include oxides of aluminum, zinc, magnesium, iron, zirconium, nickel, tin and silicon. At home and abroad in this paper, the different types of nanomaterials research progress on the reservoir and production technology are introduced in detail, involving nanoparticles in effect on the viscosity of heavy oil and hydraulic fracturing technology, heat recovery technology, low salinity water injection technology and steam foam flooding technology and changing wettability, to reduce the oil/water interfacial tension and so on the basis of theoretical research and application situation. Scholars at home and abroad have carried out a lot of experiments and numerical simulations on the role of nanoparticles in enhancing oil recovery, as well as the required concentration and action conditions, and elaborated on the mechanism of nanoparticle enhanced oil recovery. In this paper, the latest research progress in this field at home and abroad is reviewed, and the key problems and development direction in the application of nanotechnology are pointed out.