This article reviews recent work involving the development and application of nanoelectrodes in electrochemistry and related areas. We first discuss common analytical methods for characterizing the size, shape, and quality of nanoelectrodes, including electron microscopy, steady-state cyclic voltammetry, scanning electrochemical microscopy, and surface modification. We then emphasize recent developments in fabrication techniques that have led to structurally well-defined nanoelectrodes. We highlight recent advances in the application of nanoelectrodes in important analytical chemistry areas, such as single-molecule studies, single-nanoparticle electrochemistry, and measurements of neurotransmitters from single neuronal cells.