Nanomaterials are currently used for different applications in several fields. Bringing the measurements of a material down to nanoscale size makes vital contributions to the improvement of the characteristics of materials. The polymer composites acquire various properties when added to nanoparticles, increasing characteristics such as bonding strength, physical property, fire retardance, energy storage capacity, etc. The objective of this review was to validate the major functionality of the carbon and cellulose-based nanoparticle-filled polymer nanocomposites (PNC), which include fabricating procedures, fundamental structural properties, characterization, morphological properties, and their applications. Subsequently, this review includes arrangement of nanoparticles, their influence, and the factors necessary to attain the required size, shape, and properties of the PNCs.