The drawbacks associated with conventional cancer treatments, such as chemotherapy and radiotherapy, have prompted a shift in research focus toward nanotechnology. Nevertheless, despite notable progress in cancer treatment, there remain substantial obstacles that demand attention. The utilization of both nanotechnology and nanomedicine has resulted in substantial advancements in the production of materials at the nano-scale and their application as agents for therapy, diagnosis, and imaging. Timely identification of cancer is crucial for enhancing patient prognosis, and recent advancements in biomaterials, namely in technology, have played a significant role in this advancement. Nanomedicine has shown promise in enabling prompt tumor identification and efficient treatment. Scientists are presently working on creating inorganic nanomaterials, including nanographene, nanogel, carbon nanotubes, gold nanoparticles, magnetic nanoparticles, and quantum dots. They are also developing organic nanomaterials such as micelles, liposomes, dendrimers, lipid nanoparticles, polymer–drug conjugates, and polymer nanoparticles. These materials are being explored for their potential applications in cancer diagnosis and therapy. Multiple applications are accessible for different types of cancers, such as lung cancer, nervous system cancer, liver cancer, pancreatic cancer, and others. In recent times, the domain of cancer treatment has observed a significant increase in the number of alterations and the incorporation of newly developed nanoparticles. Research on the utilization of solid lipid nanoparticles as drug carriers in melanoma therapy is a prominent field of study. This topic offers the potential for significant financial support and the capacity to utilize nanostructures for the targeted delivery of cytotoxic drugs.