Nanoparticles are widely used in various fields of science and technology as well as in everyday life. In particular, gold and silver nanoparticles display unique optical properties that render them extremely attractive for various applications. In this review, we focus on the use of noble metal nanoparticles as plasmonic nanosensors with extremely high sensitivity, even reaching single molecule detection. Sensors based on plasmon resonance shifts, as well as the use of surface-enhanced Raman scattering and surface-enhanced fluorescence, will be considered in this work.