Although natural rubber is a challenging elastomeric material for both dynamic and static engineering applications, there are some inherent drawbacks such as the poor oxygen, ozone, oil and heat resistance and also the low compatibility with the polar materials. To loosen these inferior properties and also to transform natural rubber into new polymeric materials, natural rubber needs to be either chemically or physically modified. Moreover, to make natural rubber become a promising elastomeric material for the advanced application, the development of natural rubber with the superior mechanical strength, the low gas permeability or the high conductivity is recently focused. And these can be done by reinforcing natural rubber with nanofillers. This chapter presents a broad review on the recent research and development of natural rubber including the modification of natural rubber and the preparation of various natural rubber nanocomposites for advanced application.