The thesis entitled “Syntheses and Characterization of Novel Materials for Efficacious Anticancer Drug Delivery and Selective Sensing of Bioanalytes” encompasses the syntheses and characterization of various novel materials those are primarily used for efficacious pH-targeted chemotherapy, selective sensing and quantification of ATP inside a single living cell and also for specific sensing of female sex pheromone of certain agriculturally important pests. In recent era of cancer research, pH guided anticancer drug delivery is an emerging field by which not only the drug-sensitive, but also the drug-resistant cancer cell lines can be targeted efficiently. Scientists have paid lot of attentions to this area of research to design biocompatible, pH-responsive drug delivery vehicles, where most of the literatures are end up with complex, elaborated synthetic procedures and use of expensive chemicals. There are only a few reports in the literature on small molecule based drug delivery vehicles, which is not well explored. Herein some of the biocompatible, pH-sensitive lipid and short peptide sequences are synthesized in easy and short synthetic procedures and successfully tested for their efficacious anticancer drug delivery properties by various biophysical and biological techniques. A pH and reduction dual bio-responsive short peptide sequences are also generated in simple steps for the same cause. The formation of different nanostructures from the self-assembly of these short peptides is probed from high level of theoretical calculations and ultimately a well known chemotherapeutic drug, doxorubicin, has been delivered efficiently both to the drug-sensitive and drug-resistant cancer cell lines. In a particular case, in vivo study has also been performed to establish the drug delivery efficacy of those serum-stable vehicles that led to proficient reduction of tumour volume as compared to the free drug. On the other hand, a few of the molecules are synthesized and characterized by various analytical means for the selective sensing and quantification of adenosine 5’-triphosphate (ATP) inside a single living cell. Unique surface functionalized templates are also fabricated over MEMS devices for specific sensing of female sex pheromone of Helicoverpa armigera and Bactocera oleae pest in an agricultural field to detect the early pest infestation. Toward this end, an extensive study on the design, syntheses and characterization of different novel materials is presented below.