In targeted drug delivery to specific sites is significant problem which is being faced by many researchers. The development of new and complex molecules nanosponges have potential to solve these problem. Nanosponges are tiny sponges with a size of about a virus. Which can be filled with a wide variety of drugs and complex molecules. These tiny sponges can circulate around the body until they encounter the specific target site and stick on the surface and begin to release the drugs in a controlled and predictable manner. Because nanosponges play a vital role in targeting drug delivery in a controlled released rate. Nanosponges is a novel and emerging technology which offers targeted and controlled drug delivery for topical as well as oral use. A large variety of substances or drugs can be encapsulated in to the wide cavities of nanosponges. Another important features of these nanosponges is their water soluble. The nanosponges carrying both lipophilic and hydrophilic substances and mostly improving the solubility of poorly water soluble drugs. In this review article application of nanosponges, method of preparation, evaluation parameter and added recent patent have been discussed.