In this article an outline of studies conducted to date utilizing the process of electrospinning is presented. This overview for the first time focuses on research of composite nanofiber synthesis and their applications. The phenomenon of bringing materials to the nanometer scale not only improves their properties, but also creates entirely new ones. The electrospinning technique is a simple and versatile method that offers a time and cost effective production of strategic combinations of polymer and composites nanofibers useful for numerous applications highlighted in this review. The future prospects of the field are also examined.