The terms nanoscience and nanotechnology are associated with almost every major industry in today’s fast growing and fast-moving world. Along with the intense growth of nanotechnology, an extensive number of newer formulations developed to contribute to the futuristic demands. Nanofluid is a fluid containing nanometre sized particles which enhance the particular properties of that liquid designed for a particular purpose. From automobiles to simple cosmetics, the use of nanotechnology has significantly increased productivity and effectiveness. As every coin has two sides, the advancement of nanotechnology is a boon, but it is also leading to future disasters. Nanofluids have extensive applications in today’s life. The use of nanofluids has increased significantly. For example, without lubricants, the heavy industrial machinery or common automobile like bicycle, car and truck, their efficiency will reduce to a massive extent. Nanofluids are found in the forms of cosmetics and detergents in every household. As nanofluids have become an essential part of human life, for which nanoparticals, get easily released and disposed of into the atmosphere, hydrosphere, and lithosphere. This alarming rate of release and disposal of nanoparticles leads to environmental pollution and imbalance in the biosphere. This imbalance and high rate of emission of nanoparticles in the atmosphere is eventually entering the interstitium and thus affect the lungs and other organ systems. This study aims to highlight the major effects of nanoparticles on the environment and human health.