In recent years, researchers have used polymeric nanofibers for various drug delivery and tissue engineering scaffold applications. Nanofibers exhibit a range of unique features and properties, such as the simplicity of their fabrication, the diversity of materials suitable for processing into fibers, possession of high surface area, and a complex pore structure. Nanofibers with effective drug-loading capability, slow release, and good stability have attracted much attention for their potential application in locally controlling drug release. This chapter provides a review of polymeric nanofibers for controlled drug delivery applications and their future prospectives.