The current manuscript overviews the potential of inimitable zero dimensional carbon nanoentities, i.e., nanodiamonds, in the form of hybrid nanostructures with allied nanocarbons such as graphene and carbon nanotube. Accordingly, two major categories of hybrid nanodiamond nanoadditives have been examined for nanocompositing, including nanodiamond-graphene or nanodiamond/graphene oxide and nanodiamond/carbon nanotubes. These exceptional nanodiamond derived bifunctional nanocarbon nanostructures depicted valuable structural and physical attributes (morphology, electrical, mechanical, thermal, etc.) owing to the combination of intrinsic features of nanodiamonds with other nanocarbons. Consequently, as per literature reported so far, noteworthy multifunctional hybrid nanodiamond-graphene, nanodiamond/graphene oxide, and nanodiamond/carbon nanotube nanoadditives have been argued for characteristics and potential advantages. Particularly, these nanodiamond derived hybrid nanoparticles based nanomaterials seem deployable in the fields of electromagnetic radiation shielding, electronic devices like field effect transistors, energy storing maneuvers namely supercapacitors, and biomedical utilizations for wound healing, tissue engineering, biosensing, etc. Nonetheless, restricted research traced up till now on hybrid nanodiamond-graphene and nanodiamond/carbon nanotube based nanocomposites, therefore, future research appears necessary for further precise design varieties, large scale processing, and advanced technological progresses.