The emission of greenhouse gases, especially CO2, hasbecome a major cause of environmental degradation, and carbon capture,utilization, and storage (CCUS) is a proposed solution to mitigateits impact. Nanofluids, a relatively new method for CO2 absorption, have gained attention in recent years. This review focuseson conventional methods for preparing nanofluids along with techniquesto improve their stability and enhance the CO2 absorptionand desorption mechanisms. Additionally, the influences of factors,i.e., nanoparticle and base solution types as well as nanoparticleconcentration, on the CO2 absorption process are summarized.Furthermore, models that can predict the absorption of CO2 accurately are outlined. It is found that the types of both baseliquids and nanoparticles have an important impact on the absorptionby nanofluids. In-depth studies on the predictive capabilities ofartificial intelligence (AI) models hold immense potential in thisregard. This review also puts forth effective strategies to addressprevailing challenges. This will provide a solid theoretical basisfor this field and underscore the promising potential of nanofluidsas CO2 solvents. There are still many unexplored aspectsto be considered, such as the economic viability and energy consumptionof this technology.