Nanoscale theragnosis is the biomedical aspect of nanomaterials for simultaneous diagnosis and therapy. The last decade was completely devoted by the scientist to combine the advancement in nanotechnology molecular biotechnology for the development of future nanomedicine. The approach started with the development of target-specific delivery of the cargo imaging molecule or drugs for biomedical applications. The cutting edge advantages of the nanoscale materials (e.g., large surface to volume ratio, size-shape dependent physicochemical properties and multi-functionality etc.) proved themselves as the most potential preferences to design optimal therapy for the personalized medicine. The present tutorial review will highlight the recent advances in the development on the regulation of such theragnosis system and their biomedical perspectives to act as a future nanomedicine.