The chapter provides an overview of lipases, emphasizing their significance in biotechnological and industrial applications. Lipases, enzymes that catalyze the hydrolysis of triacylglycerol (TAG) ester linkages, are valued for their ability to produce free fatty acids (FFAs) and glycerol. Despite their potential, lipases face challenges such as low stability, instability in aqueous solutions, and high production costs. Immobilization techniques on nanomaterials (NMs) have shown promise in enhancing lipase activity and stability. The review discusses recent advancements, mechanisms, and effects of NMs on lipase immobilization, as well as methods for determining lipase activity. It also explores the diverse applications of immobilized lipases, including biopolymer and biodiesel manufacturing, medicines, agrochemicals, cosmetics, and flavors. The chapter highlights the importance of optimizing immobilization techniques to improve lipase performance and reduce costs. Additionally, it covers the sources of lipases, including plant and animal sources, and their extraction and purification methods.The chapter provides an overview of lipases, emphasizing their significance in biotechnological and industrial applications. Lipases, enzymes that catalyze the hydrolysis of triacylglycerol (TAG) ester linkages, are valued for their ability to produce free fatty acids (FFAs) and glycerol. Despite their potential, lipases face challenges such as low stability, instability in aqueous solutions, and high production costs. Immobilization techniques on nanomaterials (NMs) have shown promise in enhancing lipase activity and stability. The review discusses recent advancements, mechanisms, and effects of NMs on lipase immobilization, as well as methods for determining lipase activity. It also explores the diverse applications of immobilized lipases, including biopolymer and biodiesel manufacturing, medicines, agrochemicals, cosmetics, and flavors. The chapter highlights the importance of optimizing immobilization techniques to improve lipase performance and reduce costs. Additionally, it covers the sources of lipases, including plant and animal sources, and their extraction and purification methods.