Nanotechnology is one of the fastest growing areas in science and engineering. For synthesis of nanoparticles and nanocomposites with improved characteristics, radiation based technology using X rays, beams and ion beams is the key to a variety of different approaches to micropatterning. Radiation processed nanomaterials with high abrasion and high scratch resistance or biomedical usage (controlled release drug delivery systems) are of increasing importance. The ability to fabricate structures with nanometric precision is fundamental to any exploitation of nanotechnology. This publication covers selected developments in nanotechnology and on this basis presents the potential role of radiation applications in the field. It is the first publication on radiation applications in nanotechnology and therefore will play an important role in stimulating further research on the subject.