Dendrimers are a new class of synthetic polymers which have the structure like a tree or star shape, with a central core, interior branches and terminal groups which decorate the surface. Cavities inside the core and the interior branches can be modified to carry hydrophobic and hydrophilic drugs. The terminal groups on the surface can also be adapted to carry drugs or antibodies for neutralizing or targeting purposes. These artificial macromolecules may be synthesized to reach the size of nano objects having dimensions similar to proteins. Recently, dendrimers have successfully proved themselves as promising nanocarriers for drug delivery because they can render drug molecules a greater water-solubility, bioavailability, and biocompatibility. These features have made their application in pharmaceutical, nanotechnology and medicinal chemistry particularly attractive. This review focuses on properties and various applications of dendrimers.