Many industrial processes experience the advantages of enzymes which evolved the demand for enzymatic technologies. The enzyme immobilisation technology using different carriers has trustworthy applications in industrial biotechnology as these techniques encompass varied advantages such as enhanced stability, activity along with reusability. Immobilisation onto nanomaterial is highly favourable as it includes almost all aspects of science. Among the various techniques of immobilisation, the uses of nanoparticles are remarkably well perceived as these possess high-specific surface area leading to high enzyme loadings. The magnetic nanoparticles (MNPs) are burgeoning in the field of immobilisation as it possess some of the unique properties such as high surface area to volume ratio, uniform particle size, biocompatibility and particularly the recovery of enzymes with the application of an external magnetic field. Immobilisation of industrially important enzymes onto nanoparticles offers overall combined benefits. In this review, the authors here focus on the current scenario in synthesis and functionalisation of MNPs which makes it more compatible for the enzyme immobilisation and its application in the biotechnological industries.