Abstract: Two-dimensional nanomaterials have unique structural characteristics and various extraordinary properties, which make them attractive for use in the preparation of advanced materials and new products. Large-scale fabrication of these nanomaterials in a controllable way is key for the realization of their applications. Liquid phase exfoliation has been given a great deal of attention in making two-dimensional nanomaterials owing to its high efficiency and excellent controllability. This review elaborates on the superior characteristics and potential applications of two-dimensional nanomaterials while focusing on liquid phase exfoliation methods, including ion-exchange, intercalation-exfoliation, oxidation-reduction, selective etching, direct sonication and shear exfoliation methods. The mechanisms and applicability of these methods are compared and the development prospects of two-dimensional nanomaterials are discussed.