Nutraceuticals and functional food provide nutritional benefits along with preventive and therapeutic effects against various diseases, including aging-related conditions. Most nutraceuticals are bioactive compounds isolated from plants and are highly sensitive. Developments in nanotechnology have helped in overcoming various issues associated with the use of bioactive compounds in nutraceuticals and functional food. Depending on the physicochemical properties of the bioactive compound, a number of nanoencapsulation/delivery methods are available that enable protection and stabilize the bioactive compound providing better bioavailability. In this chapter, the developments in nanoformulations used for encapsulating bioactive compounds and their potential in anti-aging medicine are discussed. The most common method is by creating nanoemulsions, which can be used in both food and beverage applications. Nanosafety issues associated with the use of nanomaterials in food, related regulatory policies and consumer attitude are also outlined.