Monodispersed forms of metal nanoparticles are significant to overcome frightening threat of cancer. This review examined pragmatically thermal decomposition as one of the best ways to synthesize monodispersed metal nanoparticles which are stable and of small particle sizes. Controlled morphology for delivery of anticancer agent to specific cells can also be obtained with thermal decomposition. In addition to thermal decomposition, the study also looked into processes of characterization techniques, biological evaluation, toxicity of nanoparticles, and future perspectives.