Effective drug delivery at the targeted or specific site is the significant problem which is being faced by the researchers in the anti-cancer formulation. The development of new colloidal, porous, tiny mesh-like carrier called nanosponges with the size 1μm range which offers controlled drug delivery at a specific site in cancer treatment. Nanosponges play an important role in targeting drug delivery in a controlled manner. A wide variety of drugs, both the lipophilic as well as hydrophilic can be loaded into nanosponge for targeting drug delivery and ultimately improve solubility and bioavailability of the same drug.Nanosponge can circulate around the whole body until they interact with the specific target site and stick on the surface and begin to release the drug in a controlled manner. In this review article, application of nanosponges, its preparation methods, polymers used and characterization have been discussed.