This work focuses on the review of the recent work on the synthesis of nanozeolite Y. The synthesis formulations and features of faujasite-type structures prepared in nanosized or colloidal form, specially, zeolite Y prepared as stable colloidal suspensions are summarized. Next, nanoporous zcolite Y formation via the novel self assembly technique by using colloidal zeolites as nanobuilding blocks (subcolloidal units) is discussed. Furthermore, the latest challenges of giving mesoporosity to zeolite Y for employing in FCC process of very heavy oil are described. Finally, some promising future trends in the area are discussed.