Sugarcane-based products are inherently rich in elements such as silicon, carbon and nitrogen. As such, these become ideal precursors for utilization in a wide array of application fields. One of the appealing areas is to transform them into nanomaterials of high interest that can be employed in several prominent applications. Among nanomaterials, sugarcane products based on silica nanoparticles (SNPs), carbon dots (CDs), metal/metal oxide-based NPs, nanocellulose, cellulose nanofibers (CNFs), and nano biochar are becoming increasingly reported. Through manipulation of the experimental conditions and choosing suitable starting precursors and elements, it is possible to devise these nanomaterials with highly desired properties suited for specific applications. The current review presents the findings from the recent literature wherein an effort has been made to convey new development in the field of sugarcane-based products for the synthesis of the above-mentioned nanomaterials. Various nanomaterials were systematically discussed in terms of their synthesis and application perspectives. Wherever possible, a comparative analysis was carried out to highlight the potential of sugarcane products for the intended purpose as compared to other biomass-based materials. This review is expected to stand out in delivering an up-to-date survey of the literature and provide readers with necessary directions for future research.