Over the past decades, there has been growing interest in the development of different types of carbonaceous materials such as fullerene, graphene, carbon black, and carbon nanotubes. This article provides a discussion of various types of carbonaceous materials and describes their unique mechanical, electrical, optical, and biological properties. Also, the route of synthesis of carbon nanotubes is well discussed. The types of carbon nanotubes and their properties are discussed. Then we discussed the applications of carbonaceous materials, especially in the domain of veterinary medicine and pharmacy. The use of carbonaceous materials in veterinary medicine particularly in drug delivery and gene therapy is discussed. Lastly, the toxicity and future scope of carbonaceous materials are discussed.