Cupric oxide (CuO), having a narrow bandgap of 1.2 eV and a variety of chemophysical properties, is recently attractive in many fields such as energy conversion, optoelectronic devices, and catalyst. Compared with bulk material, the advanced properties of CuO nanostructures have been demonstrated; however, the fact that these materials cannot yet be produced in large scale is an obstacle to realize the potential applications of this material. In this respect, chemical methods seem to be efficient synthesis processes which yield not only large quantities but also high quality and advanced material properties. In this paper, the effect of some general factors on the morphology and properties of CuO nanomaterials prepared by solution methods will be overviewed. In terms of advanced nanostructure synthesis, microwave method in which copper hydroxide nanostructures are produced in the precursor solution and sequentially transformed by microwave into CuO may be considered as a promising method to explore in the near future. This method produces not only large quantities of nanoproducts in a short reaction time of several minutes, but also high quality materials with advanced properties. A brief review on some unique properties and applications of CuO nanostructures will be also presented.