The application of nanomaterials has been expanded in various medical fields. One of these important fields in the use of nanoparticles is cancer therapy and its diagnosis. Nanoparticles have unique properties due to their small size. Therefore, nanoparticles are now widely used to treat or diagnose cancer. The key factor in efficient cancer treatment is the detection of it in its early stages. In addition to the usual methods, many methods have been found for the early detection of cancer in which nanoparticles have been used to increase efficiency. It is also known that nanoparticles have recently been used to treat different types of cancers. Accordingly, in this chapter, we focus on the applications and advantages of nanotechnology in cancer diagnosis and treatment. The goal of this chapter is the introduction of nanotechnology as a new approach for this purpose. Moreover, challenges in nanotechnology and future aspects will be discussed.