Microplastics (MPs) pose a profound environmental challenge, impacting ecosystems and human health through mechanisms such as bioaccumulation and ecosystem contamination. While traditional water treatment methods can partially remove microplastics, their limitations highlight the need for innovative green approaches like photodegradation to ensure more effective and sustainable removal. This review explores the potential of nanomaterial-enhanced photocatalysts in addressing this issue. Utilizing their unique properties like large surface area and tunable bandgap, nanomaterials significantly improve degradation efficiency. Different strategies for photocatalyst modification to improve photocatalytic performance are thoroughly summarized, with a particular emphasis on element doping and heterojunction construction. Furthermore, this review thoroughly summarizes the possible fundamental mechanisms driving the photodegradation of microplastics facilitated by nanomaterials, with a focus on processes like free radical formation and singlet oxygen oxidation. This review not only synthesizes critical findings from existing studies but also identifies gaps in the current research landscape, suggesting that further development of these photocatalytic techniques could lead to substantial advancements in environmental remediation practices. By delineating these novel approaches and their mechanisms, this work underscores the significant environmental implications and contributes to the ongoing development of sustainable solutions to mitigate microplastic pollution.