Nanotechnology has proved an emerging field in diagnostic in drug delivery. The current review has done special emphasis on the history of nanobubble, nomenclature, stability of nanobubble, physico-chemical properties, characterization of nanobubble, method of preparation and applications. The nanobubbles has now been explored for its antibiotic delivery, gene delivery, targeting drug delivery, anticancer drug delivery, improving cellular uptake of chemotherapy drugs into cancer cell lines. Nanobubbles (NBs) opened a new field of ultrasound imaging and used as a diagnostic method. The article explored a novel application like oxygen delivery through nanobubble which is highly beneficial in most of the diseases.