Abstract: Significant challenges for pharmaceutical scientists still exist despite numerous technological advancements in the field, and the efficient ocular drug delivery remains elusive. Exclusive and exquisite barrier characteristics, unique physiology make the ocular milieu impervious to xenobiotics. Precorneal residence, mucoadhesion and transmembrane permeation needs to be improved using topical non-invasive strategies across ocular surface show promise for the intraocular delivery. Viable advantages such as higher drug loading, tailored drug release, bio-compatibility and mucoadhesive properties can improve delivery of lipophilic drug using colloidal nanoparticulate frameworks. Lipid based systems comprise solid lipid nanoparticles (SLNs) and Nanostructured lipid carriers (NLCs). Nanoparticles are better internalized in ocular epithelial tissues by endocytosis/transcytosis mechanisms and diffuse rapidly owing to their nano size. Penetration and retention characteristics of ocular small molecule therapeutics can be dramatically improved by the surface functionalization of lipid nanoparticles. This review summarizes scientific results such as articles and patents that involve the potential application of lipid nanoparticles as platform for the ocular drug delivery.