Obesity is a worldwide issue that is progressively worsening. It can result in significant co-morbidities, including type 2 diabetes, cardiovascular disease, and obesity-related cancers. Current treatment options for obesity have several limitations, and the connection between obesity and cancer development is not well comprehended. We examine the current state and future prospects of obesity therapy, with a focus on the potential application of nanomedicine. The presentation emphasizes the necessity for further research in this field and how developments in cancer therapy using nanomedicines could be applied for the treatment of obesity, thereby providing a safe and effective treatment with reduced side-effects for those patients.