Androgenetic alopecia (AGA) is the most prevalent form of hair loss on a global scale. However, the current FDA-approved therapies, including minoxidil (MXD) and finasteride, are often limited by suboptimal follicular targeting, variable patient compliance, and systemic adverse effects. Recent advancements in nanotechnology have yielded promising strategies for the management of AGA. These strategies involve the delivery of drugs to specific follicles, the controlled release of drugs, and the modulation of the follicular microenvironment. Herein, we summarize recent progress in nanotechnology-based approaches for AGA treatment, with emphasis on the following: disease pathophysiology; nanocarrier design principles; nano-enabled microneedle systems; and multifunctional nanomaterials capable of regulating oxidative stress, angiogenesis, inflammation, as well as hair follicle stem cell activity. A discourse is also initiated on the subjects of safety considerations, manufacturing challenges, and regulatory perspectives that are pertinent to clinical translation. Overall, nanotechnology provides a versatile framework for addressing the key limitations of conventional AGA therapies and exhibits considerable potential for future clinical application.