Nanotips have been in increasing demand over the last two decades, owing to their crucial role in the main nanotechnology instruments, like scanning probe microscopes and scanning electron and transmission microscopes. Well-defined ultrasharp tips have also attracted a growing interest in molecular electronics, as they are needed for fabrication and characterization of molecular structures. In this chapter we present several methods that have been explored so far for fabricating such ultrasharp tips, with an emphasis on the most recent also highlight some of the applications of these tips in various aspects of nanotechnology