Pharmaceuticals have been recognized for saving billions of lives, but they also appear as a novel group of environmental pollutants. The presence of pharmaceutically active residues in seawater, surface water, wastewater treatment plants, sludges, and soils has been widely reported. Their persistence in the environment for extended durations exerts various adverse consequences, such as gene toxicity, hormonal interference, antibiotic resistance, sex organs imposition, and many others. Various methodologies have been envisioned for their removal from the aqueous media. Different processes have been restricted due to high cost, inefficient removal, generation of toxic materials, and high capital requirement. The employment of nanostructured materials to mitigate pharmaceutical contaminants has been increasing during the last decades. The adsorptive nanomaterials have a high surface area, low cost, eco-friendliness, and high affinity for inorganic and organic molecules. In this review, we have documented the rising concerns of environmental pharmaceutical contamination and their remediation by applications of nanomaterials. Nanomaterials could be a robust candidate for the removal of an array of environmental contaminants in water.