As nanotechnology rapidly advanced over the past decades, a variety of nanomaterials have been developed and studied. Among them, SiC nanomaterials have recently attracted increasing attention for their demonstrated unique chemical and physical properties as well as wide potential applications. This article provides a comprehensive review of the recent progress on the synthesis, novel properties, and applications of SiC nanomaterials. It begins with the introduction of various techniques used for the rational design and synthesis of SiC nanomaterials, with an emphasis on vapor-based and solution-based methods. Discussion is then made on the mechanical, luminescent, electrical, thermal, and wetting properties of SiC nanomaterials as well as the characterizations that reveal them. Thereafter, various intriguing applications particularly in composites, field emitters, field effect transistors, sensors, nanoelectromechanical devices, catalyst, supercapacitors, bioimaging probes and microwave absorbers are highlighted. Finally, this review is concluded with an outlook of future research on SiC nanomaterials, major challenges to be met and possible solutions.