As the hardest connective tissue, bone tissue is an important part of the human body. However, with the increasing average age of the global population, the incidence of bone-related diseases has increased significantly. In view of the limitations of clinical diagnosis and treatment of bone-related diseases, nanomaterials that can be applied to bone-related diseases have attracted extensive attention. Among them, nanoparticles with the ability to specifically target bone tissues have become a research hotspot. Herein, we review advances in bone-targeting nanoparticles. First, we classify the most common bone-targeting functional groups and discuss the corresponding bone-targeting mechanisms. Then, we enumerate the existing types of bone-targeting nanoparticles and outline the latest research progress. Finally, we summarize the applications of bone-targeting nanoparticles for the treatment of cancer and osteoporosis, and for the diagnosis of bone-related diseases. This review uncovers the potential use of bone-targeting nanoparticles for the diagnosis and treatment of bone-related diseases and provides guidance for future research in this field.