The aim of the present study was to investigate the potential of a nanoemulsion formulation for vaginal delivery of Miconazole Nitrate(MCZ). Various oil-in-water nanoemulsions were prepared by the spontaneous emulsification method. The nanoemulsion area was identified by constructing pseudoternary phase diagrams. The prepared nanoemulsions were subjected to different thermodynamic stability tests. The nanoemulsion formulations that passed thermodynamic stability tests were characterized for pH, refractive index, viscosity, droplet size, drug content, transmission electron microscopy, stability study and in vitro drug release through modified dissolution apparatus. A significant increase in drug release, and good in vitro and in vivo antifungal efficacy were observed in optimized NE formulation F4 which consist of 1%wt/wt MCZ, 20%wt/wt Captex200EP, 40% wt/wt Twen80:CapmulMCM(2:1) and 40% wt/wt distilled water. In vitro antifungal efficacy of formulation F4 showed a significant increase in percent inhibition when compared with MCZ cream on candida albicans induced vaginal infection in mice. These results suggested that NEs are potential vehicles for improved vaginal delivery of MCZ.