Due to the constant need for metal matrix nanocomposites (MMNCs), which are used in industrial applications such as automotive, aerospace, and many others, and therefore many researchers, are interested in making them nanocomposites with better performance, studies are continuing to improve their properties. In contrast to other versatile conventional production methods, powder metallurgy (PM) method is highly effective in eliminating porosity, wetting and casting defects. In this review, an in-depth discussion of the different MMNCs fabricated by the PM method with an explanation of the different stages of preparation of these nanocomposites such as powder production, pressing and sintering was discussed. Also, the different factors affecting milling and sintering processes were reviewed. Finally, the advantages, disadvantages, and more common applications of PM in the preparation of these nanocomposites mentioned above were discussed in some detail.