Over the past ten years, considerable progress has been achieved in the field of nanomaterials-based enzymes (nanozymes). In comparison with natural enzymes, nanozymes demonstrate significant advantages such as facile synthesis procedure, low price, long storage period, and high environmental stability. A variety of nanomaterials including nanocarbons, metals, metal oxides, metal chalcogenides, halogen compounds, metal-organic frameworks (MOFs), and layered double hydroxides (LDHs) have been extensively investigated for enzyme mimicking. In this review, the recent progresses made in the development of the enzymatic properties of these nanozymes have been discussed. We comprehensively discuss strategies to improve catalytic activity and substrate specificity, enzyme-like catalytic mechanism, and novel application of nanozymes in sensing techniques. In addition, the remaining challenges and some future directions have been addressed. With the fast development of nanozyme applications in bioscience and technology, research in this field has become more and more attractive, which is expected to be a long-term exciting subject in the near future.