Nitrophenol reduction to aminophenol with a reducing agent is conveniently carried out in aqueous medium mainly with a metal or metal oxide catalyst. This reduction is presently considered as a benchmark reaction to test a catalyst nanoparticle. Thousands of original reports have enriched this field of nanoparticle catalyzed reaction. Synthesis of different metal and metal oxide nanoparticles and their composites along with their role as catalysts for nitrophenol reduction with varying reducing agents have been elucidated here. The progress of the reaction is conveniently monitored by UV-visible spectrophotometry and hence it becomes a universally accepted model reaction. In this review we have discussed the reaction kinetics considering its elegance and importance enlightening the long known Langmuir-Hinshelwood mechanism and Eley-Rideal mechanism at length, along with a few other mechanisms recently reported. A brief description of the synthetic procedures of various nanoparticles and their respective catalytic behaviour towards nitroarene reduction has also been accounted here.