Nanocomposites from nanofillers with preferred form of whiskers, rods, plates and fibers are disclosed. The matrix composition described includes polymers, ceramics and metals. The fillers composition disclosed include inorganic, organic and metallic. These nanocomposites are useful in wide range of applications given their unusual properties such as refractive index, transparency to light, reflection characteristics, resistivity, permittivity, permeability, coercivity, B-H product, magnetic hysteresis, breakdown voltage, skin depth, curie temperature, dissipation factor, work function, band gap, electromagnetic shielding effectiveness, radiation hardness, chemical reactivity, thermal conductivity, temperature coefficient of an electrical property, voltage coefficient of an electrical property, thermal shock resistance, biocompatibility, and wear rate.