Abstract: The yield-increasing effect of chemical fertilizers is subjected to the law of diminishing marginal returns. With increasing amount of fertilization per unit area, its input-output efficiency and nutrients absorbing rate will reduce continually; consequently, cause water body and point source pollution. Thus, the development of chemical fertilizers with intelligently controlled release function has become one of importing approaches for promoting the development of environment-friendly and sustainable agriculture. The application of nanotechnology has been approved to be promising for developing smart fertilizer by using nano-structured materials as fertilizer carriers or a controlled-releasing media for construction of so-called plant nutrients delivery system. Based on the point of view of nano-pharmacology，this paper reviewed and discussed the underlying theory of smart fertilizer and precise fertilization based on nanotechnologies, such as the interpretation and construction of plant nutrients delivery system，rhizosphere-targeted delivery of soil nutrients, intelligently controlled release patterns and regulating mechanism of fertilizer nutrients, parameter design of smart fertilizers and precision fertilization, etc..