Niosomes are one of the prominent Novel Drug Delivery systems. Niosomes are made up of non-ionic surfactants with or without cholesterol. Primarily niosomes are similar to liposomes in terms of physical properties but differ in chemical nature. Due to their higher chemical stability of surfactants than lipids these are unsurpassed when compared with liposomes. As niosomes are amphiphilic they can be utilized as a carrier for both lipophilic, and hydrophilic drugs. The application of niosomes is widely varied and can be used to treat several diseases like cancer, leishmaniasis, Parkinson, Psoriasis disease, etc. This review focuses on all aspects of niosomes including their historical development, structural components, types, formulation techniques, factors affecting their formation, controlling the size, separation of unentrapped materials, characterization, therapeutic potentials, and stability.