This study reviews recent advances in using nanofluids to enhance double‐pipe heat exchanger (DPHE) efficiency. The reviewexamines several types of nanofluids, that is, water‐based graphene oxide and CuO–water nanofluids, assessing their effec-tiveness under different operating conditions, including inlet temperature and nanoparticle volume concentration. Experi-mental findings demonstrate that the inclusion of nanofluids can lead to notable improvements in thermal performance factorsand thermal exchange ratios, primarily due to enhanced thermal conductivity. The review shows that optimizing flow rateper unit volume and nanoparticle concentration can significantly reduce pressure drop while achieving a peak heat transfercoefficient. Furthermore, minimizing the concentration level would ensure efficient thermal performance with manageablepressure losses. Statistically, titanium dioxide nanofluids of 0.5% concentration can enhance thermal rates by 14.8%, while 115%improvement in heat transfer coefficients is ascertained using 0.6% concentration of multi‐walled carbon nanotubes. Using ironoxide nanofluids can rise heat transfer rates by 41.29%, with negligible pressure drop after exposure to a magnetic field.Furthermore, hybrid nanofluids of aluminum oxide–titanium dioxide can introduce 84% enhancement in thermal performance,emphasizing their potential to optimize heat transfer in DPHE. However, further investigation is required particularly with theuse of advanced surfactants to further enhance the thermal conductivity of DPHEs, and the need for long‐term stabilityassessments and cost–benefit analyses to support the industrial implementation of nanofluid‐based thermal systems.