The catalytic properties of nanoparticles are determined by the nature of nanoparticle surface. Thus facet-controlled synthesis of catalytic nanoparticles is of paramount importance for both reactive and selective catalysis, and recently various successful synthetic methodologies have been developed to give a number of facet-controlled nanoparticles. In this review, we highlight these recent developments in facet-controlled nanoparticle synthesis along with novel strategies to enhance nanoparticle stability and reactivity.