MXenes represent a class of two-dimensional ceramic materials, primarily comprising carbides, nitrides, and carbonitrides, with ‘MAX’ phases as their precursors through the removal of ‘A’. Renowned for their conductive, hydrophilic, biocompatible, and adjustable properties, MXenes encounter challenges such as environmental instability, low biodegradability, and complexities in drug release. These issues are effectively addressed through the creation of nanocomposites. The incorporation of MXene terminations onto the polymer post-composite formation enhances functionality. Consequently, there is an augmentation in efficient photo-thermal conversion for cancer treatment, increased antibacterial activity, improved biosensors, and enhanced capabilities in bone regeneration. After the formation of the composite, the hydrophilic surfaces are converted to conducting surfaces near to that of metals. MXenes exhibit compatibility with various materials like ceramics, metals, and polymers in nanocomposite form, yielding superior properties suitable for advanced applications. Composites made of polymer are used extensively for biomedical and energy storage purposes. Similarly, the composite with ferrites is used for dying and shielding purposes which we have studied recently. This chapter also explores the prospects of MXene. Due to their specific properties and controllability from their parent MAX phase, different exotic and flexible applications are leaving a clear picture of the bright and promising future of MXene.