Lignin is the most abundant by-product from the pulp and paper industry as well as the second most abundant natural renewable biopolymer after cellulose on earth. In recent years, transforming unordered and complicated lignin into ordered and uniform nanoparticles has attracted wide attention due to their excellent properties such as controlled structures and sizes, better miscibility with polymers, and improved antioxidant activity. In this review, we first introduce five important technical lignin from different sources and then provide a comprehensive overview of the recent progress of preparation techniques which are involved in the fabrication of various lignin-based nanoparticles and their industrial applications in different fields such as drug delivery carriers, UV absorbents, hybrid nanocomposites, antioxidant agents, antibacterial agents, adsorbents for heavy metal ions and dyes, and anticorrosion nanofillers.