'Nanocoolants' offering extraordinary heat transport property demand new and exotic nanostructures as fillers that can display enhanced thermal conductivity and thermochemical stability for efficient thermal management operations. Herein we report for the first time, the processing of stable MAXene nanofluids using 2D MAXene nanosheets derived from the bulk nanolaminated Ti3SiC2 MAX phase ternary carbides via shear induced micromechanical delamination technique. The beneficial multifunctional physical properties of MAXene colloid such as thermal conductivity, viscosity and lubrication effect are assessed and reported. An enhancement of thermal conductivity by similar to 45% is achieved at 323 K with a loading of 0.25 Vol% MAXene nanosheets. Interestingly, MAXene nanofluids exhibit decreased viscosity than the basefluid revealing that it can act as 'rheo-controlled' nanofluid. It is a unique rheological behavior, not exist in many well established conventional ceramic nanofluids. In addition, MAXene nanofluids also offer lubricating property with very low coefficient of friction (COF) values (<0.1). (C) 2016 Elsevier B.V. All rights reserved.