Nanoemulsions have considerable potential for encapsulating, protecting and delivering lipophilic bioactive components via the oral route, such as pharmaceuticals (drugs) and nutraceuticals (food components with specific health benefits). These systems can be fabricated from generally recognized as safe ingredients using relatively simple processing operations, such as mixing and homogenization. Some of the potential advantages of nanoemulsions over conventional emulsions include higher bioaccessibility, higher physical stability and higher optical clarity. An overview of the current status of nanoemulsion fabrication, stability, properties and biological fate is given, with special emphasis on the suitability of nanoemulsions for the oral delivery of hydrophobic bioactive components, such as drugs and nutraceuticals.