MicroRNAs (miRNAs) are small non-coding RNAs with small number of nucleotides and control gene expression primarily at post-transcriptional and transcriptional phases [1]. The target gene expression is regulated by these miRNAs by degrading or inhibiting translation of the respective messenger RNA. The primary functions of miRNAs include regulating immune system, differentiation and development, cell proliferation, cancer and cell cycle by as hitherto unknown mechanism. MiRNAs have significant contribution to malignancy by releasing tumour suppressors and oncogenes. Different miRNA profiles are responsible for various types of tumours, hence, could serve as phenotype signature for different cancers. This unique identification can be used in cancer diagnostics, prognostics and therapeutics. Hence, discovery of new miRNAs will pave novel path in understanding the cancer genetics. However, smaller size, low concentration, sequence homology and stability are some of the major challenges involved in classification and specific recognition of miRNAs. To overcome these problems, synthesis of a nano-biosensor might assist in detection of differentially regulated miRNAs with high sensitivity, specificity and cost-effective manner. A major complication for integrating nanoformulation into clinical application is the additional toxicity. This can be circumvented by using non-toxic shells along with surface modification which can also increases the ability of NPs to detect circulating cell free miRNAs in a non-invasive manner. This ultra-short review provides comprehensive information on nanoformulations suitable for detecting these miRNAs and their biogenesis, effects in disease and treatment condition especially in cancer.