<p>Nanocomposites have emerged as a pivotal advancement in oncology. These materials surpass single nano-based systems by seamlessly integrating multiple components into one synergistic system. Such platforms combine diverse advantages, including multimodal imaging, high drug stability, biocompatibility, and stimuli responsiveness, into a single system, greatly enhancing their functionality. Therefore, current studies are increasingly focusing on these dynamic materials with high customization ability, paving the way for transformative oncological interventions. This review aims to explore the scope of nanocomposites, with a particular focus on ternary nanocomposites (three components), as a potential tool for cancer management. It begins by outlining the various nanomaterials used in composite synthesis. This is followed by a brief account of recent advancements in oncology using ternary nanocomposites. In cancer diagnosis, they provide enhanced cancer imaging and early detection through improved biosensors. As treatment modalities, they lead to improved targeted delivery, photodynamic therapy, immunotherapy, gene therapy, and tissue engineering. Moreover, this study addresses some major challenges that hinder clinical translation. These discussions elucidate several key insights into the functions of nanocomposites and the advantages they offer in cancer management. Overall, by bridging material sciences and bioengineering, these innovations could open new avenues for next-generation cancer modalities, offering new possibilities for individually optimised patient-centred therapies.</p> Graphical Abstract <p></p>