Cellulose nanocrystal, known as CNCs, is a form of material that can be produced by synthesizing carbon from naturally occurring substances, such as plants. Due to the unique properties it possesses, including a large surface area, impressive mechanical strength, and the ability to biodegrade, it draws significant attention from researchers nowadays. Several methods are available to prepare CNC, such as acid hydrolysis, enzymatic hydrolysis, and mechanical procedures. The characteristics of CNC include X-ray diffraction, transmission electron microscopy, dynamic light scattering, etc. In this article, the recent development of CNC preparation and its characterizations are thoroughly discussed. Significant breakthroughs are listed accordingly. Furthermore, a variety of CNC applications, such as paper and packaging, biological applications, energy storage, etc., are illustrated. This study demonstrates the insights gained from using CNC as a potential environmentally friendly material with remarkable properties.