We present a brief review of the history of appearance of superdispersed diamonds produced by detonation synthesis. We discuss their basic properties, structure, and methods of production, as well as the prospects of their application for manufacturing of new composite materials on the basis of polymers, rubbers, ceramics, and metal-diamond coatings. We discuss the problems of technology. Since the list of the new materials obtained by application of superdispersed diamonds is tremendous and their properties are magnificent, we plan to discuss the most important applications in the future publications.