In spite of substantial progress made in the standard treatment and ancillary therapies that include concurrent chemotherapy, radiotherapy, and surgery, malignant brain tumors – especially high-grade glioma (HGG) and glioblastoma multiforme (GBM) – denote a gloomy prospect. Intrinsic factors associated with the protection of the GBM microenvironment and the challenges of delivering drug across the blood-brain barrier (BBB) primarily hinder the efficient treatment of GBM. Recent advances in nanomedicine have shown potential in overcoming some of these hindrances. The present review examines the merits and demerits of using nanoparticle (NP) drug delivery systems for enhancing the effectiveness of the targeted drug delivery for treating HGG. Recent advances in nanomedicine-based drug delivery strategies that focus on direct and dual-targeting drug deliveries for overcoming the challenges associated with malignant glioma are discussed. Finally, clinical translation of drug delivery strategies, unresolved concerns, and prospects for future development to facilitate the effective treatment of malignant glioma are presented.