A fundamental understanding of cell-nanomaterial interaction is essential for biomedical diagnostics, therapeutics, and nanotoxicity. Here, we perform a theoretical analysis to investigate the phase diagram and morphological evolution of an elastic rod-shaped nanoparticle wrapped by a lipid membrane in two dimensions. We show that there exist five possible wrapping phases based on the stability of full wrapping, partial wrapping, and no wrapping states. The wrapping phases depend on the shape and size of the particle, adhesion energy, membrane tension, and bending rigidity ratio between the particle and membrane. While symmetric morphologies are observed in the early and late stages of wrapping, in between a soft rod-shaped nanoparticle undergoes a dramatic symmetry breaking morphological change while stiff and rigid nanoparticles experience a sharp reorientation. These results are of interest to the study of a range of phenomena including viral budding, exocytosis, as well as endocytosis or phagocytosis of elastic particles into cells.