Zinc oxide nanomaterials have been the cynosure of this decade because of their immense potential in different biomedical applications. It includes their usage in the prognosis and treatment of different infectious and cellular diseases, owing to their peculiar physiochemical properties such as variable shape, size, and surface charge etc. Increasing demand and usage of the ZnO nanomaterials raise concerns about their cellular and molecular toxicity and their biocompatibility with human cells. This review comprehensively details their physiochemical properties for usage in biomedical applications. Furthermore, the toxicological concerns of ZnO nanomaterials with different types of cellular systems have been reviewed. Moreover, the biomedical and biocompatible efficacy of ZnO nanomaterials for cancer specific pathways has been discussed. This review offers insights into the current scenario of ZnO nanomaterials usage and signifies their potential future extension usage on different types of biomedical and environmental applications.