Plastic production on a global scale is instrumental in advancing modern society. However, plastic can be broken down by mechanical and chemical forces of humans and nature, and knowledge of the fate and effects of plastic, especially nanoplastics, in the aquatic environment remains poor. We provide an overview of current knowledge on the environmental occurrence and toxicity of nanoplastics, and suggestions for future research. There are nanoplastics present in seas, rivers, and nature reserves from Asia, Europe, Antarctica, and the Arctic Ocean at levels of 0.3-488 microgram per liter. Once in the aquatic environment, nanoplastics accumulate in plankton, nekton, benthos through ingestion and adherence, with multiple toxic results including inhibited growth, reproductive abnormalities, oxidative stress, and immune system dysfunction. Further investigations should focus on chemical analysis methods for nanoplastics, effect and mechanism of nanoplastics at environmental relevant concentrations in aquatic organisms, as well as the mechanism of the Trojan horse effect of nanoplastics.