Nanotechnology has emerged fields of biomedical research in the last few decades the presents context is an attempt to present the brief information about nanobiotechnological applications. Aquasomes are one of the most recently developed delivery system for bioactive molecules like peptide, protein, hormones, antigens and genes to specific sites. Aquasomes are spherical in shape with 60–300 nm particles size. Aquasomes are nanoparticulate carrier system but instead of being simple nanoparticles these are three layered self assembled structures, comprised of a solid core coated with oligomeric film to which biochemically active molecules are adsorbed with or without modification. These structures are self assembled by non covalent and ionic bonds. The solid core provides the structural stability, while the carbohydrate coating protects against dehydration and stabilizes the biochemically active molecules. This article reviews the principles of self assembly, strategies used in chemical synthesis, methods of preparation, characterization and application of Aquasomes. Keywords: Aquasomes, Nanoparticulate Carrier System, Oligomers and Self assembly