Nowadays, the incorporation of nanoparticles into thermal fluids has become one of the most suitable strategies for developing high-performance fluids. An unconventional improvement of thermo–physical properties was observed with the addition of 1% wt. of nanoparticles in different types of fluids, such as molten salts, allowing for the design of more thermally efficient systems using nanofluids. Despite this, there is a lack of knowledge about the effect that nanoparticles produce on the thermal stability and the decomposition kinetics of the base fluid. The present study performs IR- and UV-vis spectroscopy along with thermogravimetric analysis (TGA) of pure nitrate and nitrate based nanofluids with the presence of SiO2 and Al2O3 nanoparticles (1% wt.). The results obtained support that nanoparticles accelerate the nitrate to nitrite decomposition at temperatures below 500 °C (up to 4%), thus confirming the catalytic role of nanoparticles in nanofluids.