Recent applications of ultrasound to the production of nanostructured materials are reviewed. Sonochemistry permits the production of novel materials or provides a route to known materials without the need for high bulk temperatures, pressures, or long reaction times. Both chemical and physical phenomena associated with high-intensity ultrasound are responsible for the production or modification of nanomaterials. Most notable are the consequences of acoustic cavitation: the formation, growth, and implosive collapse of bubbles, and can be categorized as primary sonochemistry (gas-phase chemistry occurring inside collapsing bubbles), secondary sonochemistry (solution-phase chemistry occurring outside the bubbles), and physical modifications (caused by high-speed jets, shockwaves, or inter-particle collisions in slurries).