The development of nanoparticle-based drugs has provided many opportunities to diagnose, treat and cure challenging diseases. Through the manipulation of size, morphology, surface modification, surface characteristics, and materials used, a variety of nanostructures can be developed into smart systems, encasing therapeutic and imaging agents with stealth properties. These nanostructures can deliver drugs to specific tissues or sites and provide controlled release therapy. This targeted and sustained drug delivery decreases the drug-related toxicity and increases the patient's compliance with less frequent dosing. Nanotechnology employing nanostructures as a tool has provided advances in the diagnostic testing of diseases and cure. This technology has proven beneficial in the treatment of cancer, AIDS, and many other diseases. This review article highlights the recent advances in nanostructures and nanotechnology for drug delivery, nanomedicine and cures.