Shell and tube heat exchanger is widely used in many application. Increased performance and efficiency are the most demanding need in today’s world. Working fluid like nanofluid with high heat transfer coefficient can be a promising alternative to the existing system. Itshould possess the height thermal conductivity, low viscosity, high specific heat, and stability. This paper discusses the review work on the uses of the nanofluid to increase the performance of shell and tube heat exchanger. The effect of different material with different base fluid has been presented with different nanoparticle shape on the performance of exchanger and on the thermal properties of working fluid has been presented. Some of the literature shows contradictory results it is concluded that the combination of ZnO and W nanofluid gives the best performance among other which has presented due to its high thermal conductivity and low viscosity. Turbulence region shows best result compare with laminar and high-pressure drop compared with it. Cylinder shape shows the better performance among considered shapes in literature. Nanoparticle should be suspended in base fluid for the long term uses which is the biggest limitation of it in a real-time application.