Nanoscale bioactive glasses of silicate composition are gaining increasing attention due to their superior bioactivity, enhanced osteoconductivity and antibacterial properties when compared to conventional (micron-sized) bioactive glasses. In this chapter, we present an overview of the technology, characterization and applications of nanoparticle and nanofibrous bioactive silicate glasses. Novel fabrication technologies are presented, covering sol-gel routes, microemulsion techniques, the gas phase synthesis method (flame spray synthesis), laser spinning and electro-spinning and the synergistic effects that determine the final properties of these materials are discussed. The advantages of nanoscaled bioactive glasses compared to conventional bioactive glasses are also discussed based on available literature evidence. The focus of the chapter is the diverse application areas of nanoscale bioactive glasses ranging from tissue engineering scaffolds to drug delivery and dentistry, considering also polymer/bioactive glass nanocomposites as promising materials for implants, bone fillers and bioactive coatings for orthopaedic applications. The nanofeatures characteristic of this type of bioactive glass are discussed and the possibilities of expanding the use of these nanomaterials in other nanotechnology approaches aiming at advanced biomedical applications (nanomedicine) are also highlighted.