Over the past few decades, nanomaterials and nanotechnologies have attracted tremendous attention in researches because of their outstanding physical, chemical, and biological properties. When the size of materials is reduced to nano range (<100 nm) at least in one dimension, their properties change significantly from those at a larger scale. Exceptionally high surface area to volume ratio and the possible appearance of quantum effects at the nanoscale are the key features of nanomaterials and have a dramatic effect on their properties. This chapter aims to provide a comprehensive overview of the size induced physical, chemical, electrical, magnetic, and optical properties of nanomaterials. A simplistic explanation of the quantum confinement effect is also discussed in order to gain an understanding of how it plays a vital role to control the properties of the nanomaterials compared to bulk materials.