The performance of heat exchange systems can be improved by nanofluids. The use of efficient nanofluids results in reduction of power consumption. Generally, refrigerants, water, engine oil, ethylene glycol etc. are used in many industrial applications as the conventional heat transfer fluids. The control over the heat removal is main challenges in some high heat flux systems such as nuclear fission, fusion, micro/nanoelectronic mechanical systems. Recent advancements in nanotechnology have made it possible to produce nanofluids of high stability. Nanofluids exhibits thermal properties superior to those of conventional fluids.