This paper reviews the latest developments in microfluidic devices for synthesizing nanoparticles and biomaterials. Miniaturized reactor platforms provide more controlled fluid transport, rapid chemical reactions, and cost-saving advantages over conventional methods for chemical, biological, and medical applications. During the past five years microfluidic devices have been developed to synthesize particles with diameters of nanometers to micrometers and materials ranging from semiconductors, metals, to polymers. As many researchers have shown, nanoparticles have unique properties based on their sizes, shapes, and morphology. Therefore controlled synthesis processing methods and devices are highly desirable to achieve homogeneous nanoparticle sizes, shapes, and hence their properties. In this review paper nanoparticle synthesis in microfluidic systems was either carried out by continuous laminar flow or in multi-phase droplet reactors. Microfluidic devices offer various manipulation mechanisms and device fabrication materials. Reported nanoparticles obtained from microfluidic devices demonstrated less particle size distributions compared to those produced by conventional methods. Core-shell structures, colloidals, and bioconjugated nanoparticle syntheses have all been reported in microfluidic synthesis platforms.