Extracellular Vesicles (EVs), the nano-sized extracellular membrane-bound vesicles, facilitate cell-to-cell communication by transporting bioactive molecules like proteins, lipids, and nucleic acids. Their unique cargo, determined by the cell of origin, makes them valuable tools for studying disease pathogenesis and potential drug delivery systems. Research suggests that EVs play a role in the pathogenesis of various diseases, including neurodegenerative and neurodevelopmental disorders. They have been implicated in diseases like Parkinson's disease (PD), Alzheimer's disease (AD), autism spectrum disorder (ASD) and Huntington's disease (HD), where their presence and cargo can contribute to disease progression. EVs can cross physiological barriers, like blood-brain barrier (BBB), and placental barrier, and this unique property makes them promising candidates for therapeutic interventions aimed at neurological disorders. Current investigations explore the utility of EVs as potential drug delivery systems for neurological conditions, with their biocompatibility enhancing their suitability for delivering therapeutic cargo directly to brain cells. EVs have been observed to accumulate in the brains of animal models of neurodevelopmental and neurodegenerative diseases, thus offering valuable insights into underlying pathological mechanisms. The review highlights the growing interest in EVs and brain diseases, focusing on their roles in PD, AD, ASD, and HD, as well as their potential therapeutic applications. Furthermore, the implications of EVs for biomarker discovery and innovative drug delivery strategies in neurodevelopmental and neurodegenerative disorders are discussed, suggesting that they may pave the way for future therapeutic interventions.