Limited permeability through the stratum corneum (SC) is a major obstacle for numerous skin care products. One promising approach is to use lipid nanoparticles as they not only facilitate penetration across skin but also avoid the drawbacks of conventional skin formulations. This review focuses on solid lipid nanoparticles (SLNs), nanostructured lipid nanocarriers (NLCs), and nanoemulsions (NEs) developed for topical and transdermal delivery of active compounds. A special emphasis in this review is placed on composition, preparation, modifications, structure and characterization, mechanism of penetration, and recent application of these nanoparticles. The presented data demonstrate the potential of these nanoparticles for dermal and transdermal delivery.