As a result of increasing resistance among pathogens against antibiotics and anti-viral therapeutics, nanomaterials are attracting current interest as antimicrobial agents. Such materials offer triggered functionalities to combat challenging infections, based on either direct membrane action, effects of released ions, thermal shock induced by either light or magnetic fields, or oxidative photocatalysis. In the present overview, we focus on photocatalytic antimicrobial effects, in which light exposure triggers generation of reactive oxygen species. These, in turn, cause oxidative damage to key components in bacteria and viruses, including lipid membranes, lipopolysaccharides, proteins, and DNA/RNA. While an increasing body of studies demonstrate that potent antimicrobial effects can be achieved by photocatalytic nanomaterials, understanding of the mechanistic foundation underlying such effects is still in its infancy. Addressing this, we here provide an overview of the current understanding of the interaction of photocatalytic nanomaterials with pathogen membranes and membrane components, and how this translates into antibacterial and antiviral effects.