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Nanosized drug delivery systems (NDDS) targeting the programmed cell death protein-1 (PD-1) and programmed death ligand-1 (PD-L1) axis have remarkably potentiated cancer immunotherapy. In this review, the NDDS exploited for anti-PD-1/PD-L1 therapy, including dimerization of PD-L1 protein, downregulation of PD-L1 expression, and blockade of PD-1/PD-L1 interaction were summarized. The perspectives and challenges of NDDS-based anti-PD-1/PD-L1 therapy were discussed as well.