Cancer is the deadliest multifactorial disease, constituting variations at the molecular and histological level. Cancer is being treated on advanced step via utilization of the multiple approaches for effectively attaining the favorable outcomes of the chemotherapeutic agents. As far as conventional treatment protocols are being considered, chemotherapy and radiotherapy are pivotal ways to deliver chemotherapeutic drugs like uracil, paclitaxel, vinca alkaloids and doxorubicin (DOX). However, DOX is more preferred owing to its FDA approval and multi-functionalization, but irrespective of its significance, several side effects, exclusively cardiotoxicity and nephrotoxicity are accompanying. These side effects have encouraged the researchers to develop novel alternative drug delivery system for transportation of the DOX with the favor of nanotechnology and co-delivery of bioactive ligands and other chemotherapeutic drugs with DOX. In this review, we have discussed the development of novel nanotechnology based drug delivery systems for DOX, which have claimed the improvement the therapeutic window (efficacy and safety) against various cancers. Moreover, co-delivery of anti-cancer drugs is thought provoking in terms of synergistic therapeutic outcomes of more than one anti-cancerous drug for achieving enhanced permeation and retention (EPR) effect.