Nanomicelles are self-assembling nanosized (usually with particle size within a range of 10 to 100 nm) colloidal dispersions with a hydrophobic core and hydrophilic shell. Owing to its size, solubility, customised surface or its exposure to the environment, nanomicelles show some unique or novel characteristics, which makes it multifunctional and thus makes its use indispensable in biomedical application and various other fields. This review presents the unique properties of nanomicelles that makes it different from other particles and paves its way to be used as drug delivery agent and many other biological uses or applications. It also emphasises on the drug encapsulation ability of the nanomicelles and different technique of drug loading and delivery along with its advantages and disadvantages.