Nanosponges are porous solid cross-linked polymeric nanostructures. This study focuses on cyclodextrin-based nanosponges. Nanosponges based on cyclodextrin can form interactions with various lipophilic or hydrophilic compounds. The release of the entrapped molecules can be altered by altering the structure to obtain either a longer or faster release kinetics. The nanosponges might increase the aqueous solubility of weakly water-soluble compounds, develop long-lasting delivery systems, or construct novel drug carriers for nanomedicine. CD-NS (cyclodextrin-based nanosponges) are evolving as flexible and promising nanomaterials for medication administration, sensing, and environmental cleanup. CD-NS are three-dimensional porous structures of cyclodextrin molecules cross-linked by a suitable polymeric network, resulting in a large surface area. This overview covers CD-NS synthesis methods and applications.