The buildup of microplastics (MPs)/nanoplastics (NPs) in aquatic biota has sparked concern due to their negative consequences on human health and the environment, making it a global issue in recent years. As a result, to achieve sustainable development goals, management of MPs/NPs contamination is crucial. Although various studies have evaluated the harmful effects of MPs/NPs, there has been insufficient attention on managing MPs/NPs by nanotechnological interventions. This review first covers the key aspects of advanced strategies, including adsorption, membrane filtration, photocatalytic degradation, magnetic separation, and electrochemistry-driven ways for efficiently sequestering/degrading MPs/NPs from the aquatic environment. An in-depth discussion on the aforementioned strategies along with various nanomaterials/nanocomposites (e.g. micromotors, microswimmers, MOFs, GO, CNTs, etc.), for the mitigation of MPs/NPs is studied. The outlook section offers insights into the conversion of MPs/NPs into valuable products by using nano interventions. Additionally, a brief overview of the economic aspects/ cost analysis of MPs/NPs management, future directions, and prospects is comprehensively documented as futuristic approach.