The production of high-quality silkworm silk is of importance in sericulture in addition to the production of biomass, silk proteins, and animal feed. The distinctive properties of nanomaterials have the potential to improve the development of various sectors including medicine, cosmetics, and agriculture. The application of nanotechnology in sericulture not only improves the survival rate of the silkworm, promotes the growth and development of silkworm, but also improves the quality of silk fiber. Despite the positive contributions of nanomaterials, there are a few concerns regarding the safety of their application to the environment, in humans, and in experimental models. Some studies have shown that some nanomaterials exhibit toxicity to tissues and organs of the silkworm, while other nanomaterials exhibit therapeutic properties. This review summarizes some reports on the biological effects of nanomaterials on silkworm and how the application of nanomaterials improves sericulture.