Engineered nanoparticles are emerging as useful tools for different purposes in life sciences, medicine and agriculture. Nanomedicine, an emerging discipline, involves the application of nanotechnology (usually regarded within the size range of 1-1000 nm) in the design of systems and devices that can facilitate our understanding of disease pathophysiology, nano-imaging, nanomedicines and nano-diagnostics. Among the different nanomaterials used to construct nanoparticles, are organic polymers, co-polymers and metals. Some of these materials can self assemble, and depending on the conditions under which the self-assembly process occurs, a vast array of shapes can be formed. Frequently, the nanoparticle morphology is spherical or tubular, mimicking the shape, but thus far, not the functions of subcellular organelles. We discuss here several representative nanoparticles, made of block copolymers and metals, highlighting some of their current uses, advantages and limitations in medicine. Nano-oncology and nano-neurosciences will also be discussed in more detail in the context of the intracellular fate of nanoparticles and possible long-term consequences on cell functions.