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Conventional chemotherapy continues to face several challenges, including severe adverse effects and limited specificity in cancer treatment. These problems have been addressed by nanotechnology, which has greatly advanced the science of oncology. The application of nanoparticles has improved the therapeutic index of a number of traditional medications and has made it easier for therapeutic agents, including complex biomolecules such as genetic material, to accumulate in tumors and be delivered intracellularly. Among various drug delivery systems based on nanotechnology, Solid Lipid Nanoparticles (SLNs) have shown a promising platform for delivering different kinds of drugs. Compared to other formulations, its solid lipid core, which remains stable at both body and room temperature, yields nanoparticles with greater stability. Furthermore, solid lipid nanoparticles satisfy the main criteria of an ideal nanodrug delivery system due to their easy scale-up, low production costs, and capacity to employ biocompatible and physiological materials. SLNs have been widely used in cancer treatment, bacterial infections, brain imaging, dermatology, eye problems, and several other applications. The use of SLNs controls drug release and improves pharmacokinetic properties. The widespread use of SLNs is due to their unique properties, including surface modification, increased permeability across biological barriers, improved pharmacokinetic properties, resistance to chemical degradation, and co-delivery of multiple therapeutic agents. This manuscript provides a comprehensive overview of solid lipid nanoparticles, covering their manufacturing techniques and administration routes. Furthermore, it also highlights recent research concerning the applications of SLNs in cancer therapy.