At present treatment methods for cancer are limited, partially due to the solubility, poor cellular distribution of drug molecules and, the incapability of drugs to annoy the cellular barriers. Carbon nanotubes (CNTs) generally have excellent physio-chemical properties, which include high-level penetration into the cell membrane, high surface area and high capacity of drug loading by in circulating modification with bio-molecules, project them as an appropriate candidate to diagnose and deliver drugs to prostate cancer (PCa). Additionally, the chemically modified CNTs which have excellent 'Biosensing' properties therefore makes it easy for detecting PCa without fluorescent agent and thus targets the particular site of PCa and also, Drug delivery can accomplish a high efficacy, enhanced permeability with less toxic effects. While CNTs have been mainly engaged in cancer treatment, a few studies are focussed on the diagnosis and treatment of PCa. Here, we detailly reviewed the current progress of the CNTs based diagnosis and targeted drug delivery system for managing and curing PCa.