Nanotechnology is an emerging and rapidly developing toolbox that has novel and unique applications to food science and agriculture. Fast and impressive developments in nanotechnology for food and agriculture have led to new experimental prototype technologies and products. Developing various types of nanodelivery systems, detection tools, nanoscale modifications of bulk or surface properties, fabrication of wide-range bionanosensors, and biodegradable nanoplatforms can potentially improve consumer health and safety, product shelf life and stability, bioavailability, environmental sustainability, efficiency of processing and packaging, and real-time monitoring. Some recently developed nanotechnology techniques and potential product applications of nanotechnology are summarized in this review. Exposure to nanomaterials may be harmful to the consumer and the environment and might increase the potential of risk. For this reason, evaluation of the potential risks resulting from the interaction of nanomaterials with biological systems, humans, and the environment is also reviewed.