In this review, a concise research history of low-dimensional boron nitride (BN) nanomaterials followed by recent developments in their synthesis, morphology, properties, and applications are presented. Seventeen years after the initial synthesis of BN nanotubes, research on BN nanomaterials has developed far enough to establish them as one of the most promising inorganic nanosystems. In this regard, it is envisaged that the unique properties of low-dimensional BN systems, such as superb mechanical stiffness, high thermal conductivity, wide optical bandgap, strong ultraviolet emission, thermal stability and chemical inertness will play a key role in prospective developments.