The ways of developing functional textiles based on nanomaterials were introduced, and the latest research achievements of nanomaterials in such aspects as flame retardancy, antibacterial, super-hydrophobic, self-cleaning, UV resistance, and anti-static textiles were reviewed. The main technical obstacles to the large-scale application of nanomaterials in functional textiles were pointed out, the possible solutions were discussed, and the development of functional textiles by nanomaterials has been prospected.