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Bimetallic nanoparticles (BNPs) are formed by the combination of two different metals. Bimetallic nanoparticles have attracted huge attention as compared to monometallic nanoparticles in both technological and scientific view because BNPs shows better properties. Bimetallic nanoparticles can be synthesized in different shape, size and structure. The nanocomposites of BNPs have been prepared by supporting them on the organic or inorganic counterparts. BNPs nanocomposites have improved properties as compared to those of bimetallic nanoparticles. Due to reduction in size and increase in surface area, these are prominently used as catalyst. Application area of bimetallic nanocomposites includes drug delivery, water purification and catalysis etc. Keywords: Nanotechnology, Nanoparticles, Monometallic, Bimetallic, Bimetallic nanocomposites, Catalysts