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Aim: For procuring the stable form of drug delivery, tremendous efforts have been made in developing new drug delivery vectors. One such approach that meets the desired stability standards is Liquid Crystalline Nanoparticles (LCNs). Background: The liquid crystals are the intermediate forms of solid and liquid materials, which hold high tolerance to bear the influences of physical parameters. The liquid crystals are employed in nanotechnology to find the best way to produce the intended action of customized targeting drug delivery. The structural alignment is another critical aspect to consider, as these can accommodate wholesome drug amounts. Methods: From the studies, it has been evident that distinct characteristics like the simplicity in structure, self-assembling properties, feasibility of production, efficacy in delivery with low toxic values, have addressed the excellency of LCNs. Conclusion: The current review focusses on key areas regarding the nature of liquid crystal, diverse forms, technologies used to transform them into the desired nanoparticles, and their applications as drug delivery carriers as well as theranostic agent.