Biochar can be used for soil remediation in environmentally beneficial manner, especially when combined with nanomaterials. After a decade of research, still, no comprehensive review was conducted on the effectiveness of biochar-based nanocomposites in controlling heavy metal immobilization at soil interfaces. In this paper, the recent progress in immobilizing heavy metals using biochar-based nanocomposite materials were reviewed and compared their efficacy against that of biochar alone. In details, an overview of results on the immobilization of Pb, Cd, Cu, Zn, Cr, and As was presented by different nanocomposites made by various biochars derived from kenaf bar, green tea, residual bark, cornstalk, wheat straw, sawdust, palm fiber, and bagasse. Biochar nanocomposite was found to be most effective when combined with metallic nanoparticles (Fe3O4 and FeS) and carbonaceous nanomaterials (graphene oxide and chitosan). This study also devoted special consideration to different remediation mechanisms by which the nanomaterials affect the effectiveness of the immobilization process. The effects of nanocomposites on soil characteristics related to pollution migration, phytotoxicity, and soil microbial composition were assessed. A future perspective on nanocomposites' use in contaminated soils was presented.