The necessity for efficacious, sophisticated methodologies to facilitate agricultural intensification in the context of global population growth is widely accepted. One of the principal methods for enhancing the yield of plant agricultural products is the application of fertilizers. In light of the rapid advancement of nanotechnology over recent decades, the potential of utilizing fertilizing systems based on nanoparticles and nanomaterials—termed “nanofertilizers”—as an alternative to classical mineral fertilizers is increasingly being explored. Due to their unique properties, nanofertilizers demonstrate a number of qualities useful for agriculture. These include high activity, more accurate dosing, targeted delivery of fertilizers to plants, reduced accumulation in soils and groundwater, high durability, and so forth. This review presents a synthesis of data on the efficacy of nanofertilizers over the last decade, focusing on macro-based (N, P, K, Ca, Mg, S) and micro-based (Fe, Zn, Mn, B, Cu, Mo) nanoformulations for agricultural crops. We analyzed over 200 publications, published mainly over the last decade, on the topic of “nanofertilizers”. An analysis of published data on the effectiveness of using nanoparticles as applied fertilizers was carried out, and the effectiveness of using nanofertilizers was compared with traditional chemical fertilizers for a number of elements.