Here is the review of experimental and theoretical results on the mechanism of heat transfer in nanofluids. A wide scope of problems related to the technology of nanofluid production, experimental equipment, and features of measurement methods is considered. Experimental data on heat conductivity of nanofluids with different concentrations, sizes, and material of nanoparticles are presented. Results on forced and free convection in laminar, and turbulent flows are analyzed. The available models of physical mechanisms of heat transfer intensification and suppression in nanofluids are presented. There are significant divergences in data of different researchers; possible reasons for this divergence are analyzed.

In the second part of review, we have considered the problems related to momentum and heat transfer in nanofluids. Results on hydrodynamic friction, forced and free convection in the laminar and turbulent flows are analysed; heat transfer at boiling is considered. The available models describing heat transfer intensification and suppression in nanofluids are studied. It is shown that for some problems on convective heat transfer there is a contradiction in data of different authors; possible reasons for this contradiction are analysed.