In industries, including water treatment, catalysis, oil refining, sensors, food, energy storage, construction materials, and many others, a great deal of investigation has been undertaken on the application of nanomaterials. Nanoparticles are ultra-small particles with remarkable capabilities; however, when released into the environment, certain nanoparticles and nanomaterials may display detrimental features. Identification and characterization of nanoparticles need additional insight into physicochemical attributes and testing procedures compared to conventional compounds. In addition, regulating considerations for chemicals are generally based on particular toxicological characteristics that might not be exactly equivalent to those of nanomaterials. Nevertheless, regulatory authorities lack an authorized decision framework for nanomaterials that relates the significance of particular physicochemical indicators to toxicological consequences. This chapter addresses several physicochemical parameters and accessible testing techniques for nanomaterials. It provides a summary of the statutory implications and procedures used for evaluating nanomaterials, as well as approaches from the previous research, and evaluates the appropriateness and applicability restrictions of the techniques.