Metal nanoparticles possess a single element, thus minimizing the complexity and toxicity. It is fascinating to develop newer metal nanomaterials for such applications. We report, for the first time, a systematic synthesis and characterization of neodymium nanorods. Their broad spectral response extends from the UV–vis to the NIR-II wavelength range. The nanorods are paramagnetic. They are made as a nanocarrier by coating them with a poly-β-cyclodextrin polymer. The release of the loaded camptothecin on the nanocarrier takes place over a period of 300 h. The anticancer efficiency of the camptothecin-loaded on the nanocarrier is reported. Since the neodymium nanoparticles possess a high aspect ratio, absorb light in the NIR wavelength range, and possesses a photoluminescent property. They can emerge as a new nanomaterial of interest in the fields of anticancer drug delivery and photothermal therapy.