Electrospinning is acknowledged as a versatile technique for producing polymer nanofibers. Various methods, such as template synthesis, self-assembly, phase separation, and drawing, have been employed to create nanofibers. However, due to its simplicity, adaptability, and the inherently high surface area-to-volume ratio in electrospun fibers, electrospinning has emerged as the most suitable method for nanofiber fabrication. This review delves into the mechanisms of nanofiber techniques and establishes how electrospinning overcomes the challenges presented by other nanofabrication methods. The review explores the principles of electrospinning, processing parameters, and their effects on resulting fibers. It also discusses the properties and selection of polymers used in electrospinning, highlighting various polymer types commonly employed in pharmaceutical applications. Additionally, the review covers different types of electrospinning and their configurations, discussing their impact on drug release profiles, along with their respective advantages and disadvantages. The recent applications of electrospinning in enhancing pharmaceutical outcomes are examined, addressing crucial aspects in the pharmaceutical field, such as improving dissolution rates, masking undesirable tastes, and enabling drug delivery through various systems. In summary, this article provides a comprehensive understanding of electrospinning and its pivotal role in advancing drug delivery approaches.