Solid lipid nanoparticles (SLN) are most developing formulations of nanotechnology with several applications in different fields like drug delivery, clinical medicine and research as well as in other varied sciences. SLN are the spherical particles of nanometer range which immersed in water or aqueous surfactant solution either using lipophilic and hydrophilic drug. Even the enhancement of solubility and bioavailability of poorly soluble drugs should be carried out using different biodegradable and bioacceptable polymers which can also overcome the toxic effects of traditional drug carrier system. In this review article we focused on the various development techniques, their evaluation and comparison of different traditional carrier systems. This review also emphasize on methods to minimize the toxic and overdosing effects of drugs using sophisticated production techniques like homogenization and solvent evaporation. It pave the arena for the acceptance of solid lipid nanoparticles as novel or targeted drug delivery system through using recent analytical techniques like electron microscopy, dynamic light scattering (DLS), atomic force microscopy, differential scanning calorimetry (DSC), nuclear magnetic resonance and their evaluation parameters concurrent with application.