Nanofluids are suspension of highly conductive nano-sized particles in conventional
fluids that may be applicable as ultrafast cooling agent to extend the thermal performance
of cooling devices. However, before considering the feasibility as coolant for high
heat flux components, a thorough investigation of the long-term stability of nanofluids
is of paramount importance. Preparation of extremely stable nanofluids has become
one of the main technical challenges. The present contribution aims to summarize the
recent developments in the preparation, characterization, and stabilization of nanofluids
based on the information available in literatures. Lastly, existing needs and attainable
solution to challenges, leading to the upcoming research in the development of highly
stable nanofluids, are discussed.