Recent advances in synthetic methods have led to the preparation of a wide array of transition metal phosphide nanoparticles, and characterization of these materials has provided insight into nanoscale magnetic and catalytic properties. This review highlights advances in the field that have been made since the time of the last review [S.L. Brock, S.C. Perera, K.L. Stamm, Chem. Eur. J. 10(2004)3364–3371]. Synthetic methods include solvothermal, solution-phase arrested precipitation, metal nanoparticle conversion, and phosphate reduction. Magnetic properties of FeP, Fe 2 P and MnP nanoparticles and nanorods (among others), and recent data on thiophene hydrodesulfurization catalyzed by discrete, unsupported Ni 2 P particles, is presented. Finally, the future prospects for the field are discussed.